Dan, I have been charting stock market Momentum for 40 years, there are momentum cycles that precede price highs and lows. It has been my experience that momentum precedes price highs 100% of the time and market lows 95% of the time. By charting these momentum cycles I am able to make certain (fairly accurate, but not allways perfect) predictions, for what I call "Change of Direction Points", in stock market momentum.
On December 10, 2003, I had a signal for what I thought was a market high, Zeev had a projection for a "Local Low". Zeev was correct, it was a little low, I was wrong. So I started calling my signals, "Change of Direction Points", that term covers the bases <g>.
I had signals for "Change of Diection Points" for 2/19/04, and 3/11/04, both of which, turned out to be accurate.
I have two more projections for "Change of Direction Points" on 4/15/04 and 5/21/04. We will see if theses dates, also turn out to be accurate.
We Will Know In The Fullness Of Time
Jim
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