Replies to post #118652 on ajtj99's Market Pulse

[uncle_chubbie]

big rally for 5-6 days, 600-700 points on the dow or more, Uncle buck is the buy signal. (JMHO) CHUBBIE

[challo]

he said end of summer - not end of May

It’s started. Look for new all-time highs before the end of this summer, maybe even a DJIA above 15,000. It’s Jupiter’s time coming up, and Jupiter is the cosmic Santa Claus.

http://www.mmacycles.com/weekly-preview/mma-comments-for-the-week/comments-for-the-week-beginning-may-5,-2008/

[ajtj99]

If you look at the EEM weekly, you could make a case that a bullish flag just broke up.

I pulled up some weekly 2X fund charts this weekend, including inverse ones. It gives an interesting perspective.

USPIX, 2X the inverse of the NDX, looks like it's going to new lows. That would indicate a test of the highs for the NDX (there is some decay in the USPIX due to the use of options, so you won't always get 2X results).

UUPIX, 2X the Emerging Markets index (EEM) is a clear bull flag that has broken up.

If you look at the in-play daily "mirror" patterns on the NDX, you could make a case for a pretty quick run to 2148 NDX by June.

I'm trying to keep an open mind here, and with the big up day on Thursday many of charts have taken on real bullish looks.