DOW Yearly chart

Wishing you all a Happy & prosperous New Year from a long time lurker. Alleyb, thanks for all your efforts in posting these charts. Guy, thanks for your hard work with this site and daytrader and others, thanks for your great comments and contributions.

Last week's action in the major indicies looked pretty awful in my MP charts, but I'm not sure if I should read too much into it being that volume was so light and it seemed as though not too many people had their head in the game (myself included). Would you agree with this? Also do you think the latest sell off is more responsive "book-squaring" vs. initative selling, ie. establishing short positions? I guess we'll find out soon enough if we get a meaningful bounce from this oversold position.

Also, I'd love to hear more detail on how you've come to this 2006 projection.

Thanks again and a happy & healthy New Years to all.

I echo traderjp's thanks Alex for all your hard work and help posting these charts.

Happy New Year to everyone. I think that there are a lot of lurkers here who appreciate your postings.

Well we certainly got the rally. The COT report analysis that I do weekly and post on my website actually foretold the possiblility of the rally But I had hoped for one more punch lower to really get everyone beared up. well I suppose we did actually ge that with Tuesdays (Jan 3rd) trade but it was Europe who had been making all the bull noises having also been open on Jan 2nd and it was they who got the short covering. Now did we get everyone to twist their shorts (as was shown in the COT analysis) to become longs. probably not but we shall see. as to the anticpated range for 2006. all I did was analyse MP on a yearly basis and extrapolate some levels. No different than normal. PS Happy New Year and Thankyou one and all for your kind comments