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> And if I had to bet $1 on where we go from here - a melt-up, a melt-
down or neither, I'd put in on 'neither'.
How about 'either'? There's a pretty tight wedge that's formed dating
back to July. The rising upper trend line is near 1075, and the lower
is above 1040. As long as it stays inside the lines, it stays inside
the lines <g>. As big wave surfers say, "everything is OK until
something goes wrong." IOW, no worries until someone gets killed.
Anyway, it makes sense to me to watch how the market acts around
those TL's. Wedges often can lead into *either* accelerations or
sharp breaks or they persist a while longer....but sooner or later
someone gets killed by a surprise wave.
--- In realtraders@xxxxxxxxxxxxxxx, "Bobh" <BHEISLER@xxxx> wrote:
> Since we are in a post-bubble, transitional market I'm wondering if
this comparison is applicable now. It reached single digits back in
the early 1990's and I wouldn't be a bit surprised if we saw those
levels again.
>
> I don't disagree that this market looks like an accident waiting to
happen, but it's looked this way since June. And if I had to bet $1
on where we go from here - a melt-up, a melt-down or neither, I'd put
in on 'neither'.
>
>
> ----- Original Message -----
> From: EarlA
> To: realtraders@xxxxxxxxxxxxxxx
> Sent: Friday, December 05, 2003 8:00 AM
> Subject: Re: [RT] The Market environment
>
>
> Attached chart marks off 7 years of SPX vs VXO (old VIX). Note
the 3 heavy red arrows marking extreme low readings w/o 7/24/98,
9/8/00 and current.
>
> Earl
> ----- Original Message -----
> From: SLAWEKP@xxxx
> To: realtraders@xxxxxxxxxxxxxxx
> Sent: Thursday, December 04, 2003 11:48 PM
> Subject: Re: [RT] The Market environment
>
>
> VIX is in rare Fibo window cycle for low between now & Monday
Dec 8th.
>
> low for VIX = high for SPX
>
> Weekly Broker index is topping......this is also leading
indicator
>
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