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https://www.technicalindicatorindex....55475115%2Epdf
We will either have a continuing bear rally, or this is the prelude to going over the second and final cliff. Which do you believe?:confused:
TII Newsletter 1038A for Mar. 18/09 by Dr. McHugh, Technical Indicator Index:
"... We now have buy signals in the Weekly and Daily Full Stochastics, with the Monthly FS bottoming and very close to new buy signals. However, the Daily Full Stochastics have risen to near overbought levels, and appear to be rolling over, suggesting a decline is coming before the multi-month rally gets legs.
...
If the alternate is occurring, it means a zig-zag pattern is definitely unfolding, meaning the third leg down, wave (C ) down, a cataclysmic decline, will approximate the decline from October 2007 through now, meaning we could see the bottom of this Bear Market be very close to zero in the Industrials and the S&P 500. Yes that is right, a 90 percent
drop from October 2007’s top would be a high probability. The stock market decline of 1929 through 1933 had a 90 percent decline."
"... We now have buy signals in the Weekly and Daily Full Stochastics, with the Monthly FS bottoming and very close to new buy signals. However, the Daily Full Stochastics have risen to near overbought levels, and appear to be rolling over, suggesting a decline is coming before the multi-month rally gets legs.
...
If the alternate is occurring, it means a zig-zag pattern is definitely unfolding, meaning the third leg down, wave (C ) down, a cataclysmic decline, will approximate the decline from October 2007 through now, meaning we could see the bottom of this Bear Market be very close to zero in the Industrials and the S&P 500. Yes that is right, a 90 percent
drop from October 2007’s top would be a high probability. The stock market decline of 1929 through 1933 had a 90 percent decline."