Replies to post #287 on Short Term Trading (NDX / NQ / SMH)

[Dimension]

we're we actually in a bear mkt this year, or are we starting one now?

http://stockcharts.com/def/servlet/SC.web?c=$ndx,uu[h,a]waclyyay[pc42!d20,2!f][vc60][iub9!uh9,3!ud20...

notice the macd on the above chart making a new low...and the extreme oversold conditions on the weekly. implying we need to becareful of calling a bounce here a bottom

yes, my position is changing slightly...but that's what happens when you step back and look at the bigger picture.
i think we could be bottoming, but we won't know for sure until the retest..

[BlissBull]

peg - I respectfully disagree... I think we have just completed wave 4 of the big bull market that began in 2002, and are now ready to begin wave 5 up to new highs (no, I didn't read it in anyone else's book) LOL