Replies to post #2209 on *~1Best~* Market Timing & Trend-Signals

[*~1Best~*]

1997 Price Action Pattern:


I commented on VIX breakout in Jun-Jul 2006 bottom call that market is showing similar pattern of 1995.

The current price pattern shows that we are in 1997 pattern when market corrected 10% after a correction of 7%+/- which is Jun-Jul 2006 low.




In 1997, we didn't have a retest of the low after similar "W" formation with lower/low with 10 %+/- correction which is the VIX level 37 which we have seen. After 1997 10% correction, market rallied 60% before 1998 correction of 20%.

In 1998, after 1997 bottom followed by a rally to 60%, we had 20% +/- correction with higher VIX level to 47.




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