K Wave Rider Posted May 9, 2004 Report Share Posted May 9, 2004 A couple of charts that look awfully similar in a lot of ways..is this IT??? Then.. Link to comment Share on other sites More sharing options...
K Wave Rider Posted May 9, 2004 Author Report Share Posted May 9, 2004 and now.. Link to comment Share on other sites More sharing options...
Guest Posted May 9, 2004 Report Share Posted May 9, 2004 KWave pls excuse my ignorance. But I am looking at both charts & I was wondering that IF they were similar WHERE WOULD WE BE in comparison to the 1987 setup..i.e do you expect 1 more weak rally attempt if the comparison is valid ? Link to comment Share on other sites More sharing options...
K Wave Rider Posted May 9, 2004 Author Report Share Posted May 9, 2004 The shape of the MACD would lead me to believe that we are in the acceleration phase right now..any crash would need to come right away..or most likely not at all. Also, new lows are getting extreme now, indicating a significant a momentum point is here or right around the corner..my guess is within a couple of days, so kinda now or never, methinks. If we don't crash, we could still have a grinding chop lower, just as we ground higher in April of '03 with an extreme number of new highs for quite some time..but we need to break at least 10K, and stay under. The alternative scenario is that Friday was the low close..and that the market explodes upward from here after bouncing off 10K one more time..as we do have a pretty decent divergence on the daily MACD if we do not crash here..the bear case needs to see some serious weakness to develop right now, as this area looks to be a major long term pivot point.. My gut says over the edge we go, especially with the destructive impulse action in the homebuilders on Friday..I will be watching Euroland tonight for clues.. Link to comment Share on other sites More sharing options...
Guest Posted May 9, 2004 Report Share Posted May 9, 2004 Thanks KWave. Clear explanation for simpletons like myself - Link to comment Share on other sites More sharing options...
Sasquatch Posted May 13, 2004 Report Share Posted May 13, 2004 According to Bob, this rolling crash is just getting legs! PRECHTER'S LATEST FORECAST By Robert Prechter, Steve Hochberg and Pete Kendall May 10, 2004 The stock market began a breadth collapse on Thursday (May 6). The major averages resisted the decline until about 1 p.m. yesterday (Friday) and then began to slip. Since the February top, the wave count in the Dow has progressed to the point at which it is entering the middle portion, the crash phase. The Dow had only a moderate down day on Friday, but the historically low advance/decline ratio of 1:12 unequivocally supports this wave labeling. A panic should set in, gather momentum for a week and a half and end no earlier than May 19-20, at the bottom of the current 8-week cycle. For a number of reasons, the setup here is similar to that of October 1987, with May 5, 2004 coinciding with October 5, 1987. The main difference is that the market is not in a Primary degree correction but has resumed a Supercycle degree bear market, so the end of the crash will not form a major buying opportunity, just a temporary low. This bear market will generate multiple panics before it?s over. From Best of Prechter at Doom & Gloom.. Link to comment Share on other sites More sharing options...
Sasquatch Posted May 17, 2004 Report Share Posted May 17, 2004 A Bit of Global PaNiC Tonite.. India down over 15% India 5Day Chart.. Indian Markets Tumble, Trade Halted.. S Korea down over 5% S Korea 5Day Chart.. Taiwan down over 5% Taiwan 5Day Chart.. Japan down over 3% Japan 5Day Chart.. Oil at 21Yr Highs Oil Hits Fresh Highs.. Link to comment Share on other sites More sharing options...
the east is red Posted May 29, 2004 Report Share Posted May 29, 2004 Apparently not. Doomsday deferred. Yet again. Link to comment Share on other sites More sharing options...
DrStool Posted May 29, 2004 Report Share Posted May 29, 2004 But perhaps not for long. Reflation Reports, Real or Bogus? Credit Measures Seize. Losses Growing. Foreign Banks Bailing Fed Releases update is now posted! Once a week Doc fills you in on the all important Fed releases. Doc gives you his briefs on theFed's most important money and credit measures. Take a subscribatory and download your Fed Turdsday Releases RIGHT NOW! 30 Day Intro Subscribatory. Just $16.99! Get In RIGHT NOW! Link to comment Share on other sites More sharing options...
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