WEEKEND UPDATE 12- 13-09
Yet another week of up down mish-mash. The only thing that makes this interesting is that on the longer term charts you just had a clear cycle top and absoulutely horrendous (and well documented by the bloggers)technical indicators. Neg. divergencies eveywhere you look . balanced against that is that the main trend (from 865 or even 665!) is clearly up and larger cycles have quite a ways to go before peaking in 2010. New highs arnt too bad and new lows remain low. And lets not forget charting 101! A sideways consolidation near the high , should by all rights, eventually break up to new highs, right? Unlike most, i find the last months action fascinating! I cant wait to see the final outcome. And fwiw, i think this mish-mash ends by Christmas! I tend to lean more to an upside break, but it looks like there should be one more down first. At least thats my best guess. but because the technicals are so lousy, the pop up to a marginal new high (1122-1133?) and then a collapse remains a real possibility! This is fun as hell!