McHugh rebound

[hellstan]

We continue to believe stocks are putting in a major low, which should lead to a several month rally, wave b-up. It is hard to tell at this time if wave b-up will be sharp, or more of a sideways triangle correction of the Bear Market from October 2007. We also believe wave 5 down is forming a Declining Wedge, which requires several more waves to completion and could take prices down near the 2002 lows, 7,197 in the Industrials over the next few weeks.

www.technicalindicatorindex.com

[Jim Nickerson]

Re: McHugh rebound

We continue to believe stocks are putting in a major low, which should lead to a several month rally, wave b-up. It is hard to tell at this time if wave b-up will be sharp, or more of a sideways triangle correction of the Bear Market from October 2007. We also believe wave 5 down is forming a Declining Wedge, which requires several more waves to completion and could take prices down near the 2002 lows, 7,197 in the Industrials over the next few weeks.

www.technicalindicatorindex.com

Can you draw any conclusion what you posted?

"Several month rally" from when?

At apparently the same time seems to be calling for downward price action "could take prices down near the 2002 lows, 7,197 in the Industrials over the next few weeks."

I personally find McHugh's analyses near useless. He makes a lot of calls, I think, so that if he were to get one correct, he can later quote the call. I would find McHugh's stuff of interest personally were I given to looking for Bible verse quotations put up with technical analytical notes.

Please tell he he's quit doing that.