22 March 2006
Safe Haven | Stock Market: CNBC Report
Safe Haven | Stock Market: CNBC Report: "Last week we were looking for the index to move up out of the low we forecast for the previous weekend and start the final exhaustion move up to complete this bull campaign. This must also comply with fast trend criteria or there is a problem with the trend. This cannot correct back more than 4 days at any time or the trend is over. If this is going to be a true exhaustion of classic proportions it will need to show a small sideways consolidation now rather than a counter trend down. A counter trend will still hold the up trend intact but a sideways or 'flat' consolidation that takes only three or four days to complete would indicate a much stronger trend. There is a wild card here and I don't know the effect. But the 19th through the 21st of March has been very, very significant every year for the past 7 years. It is not usual for this index to find a vibration point and repeat it for years as was done with the October dates after 1987. I am assuming that one-year vibration is no longer dominant, next resistance is 1326."