Achtung! Don’t go to sleep here!

Posted on Jan 28, 2012 by in Letters

There is never any lack of disagreement amongst the punditry.  This is also true for technical analysts.  And for fundamental analysts.  And for analysts of all other stripes (and spots).  That's why we have horse races and super bowls and the stock markets.  In the chart above we see one of the objects of disagreement -- or ammunition for the bear side.  Converging trend lines are the sign of the wedge, which is thought to have bearish implications.  Some pundits are looking at this and calling for a "correction".  10% is what they are looking for.  Readers will remember our market dictum, that all waves generate their antithesis.  The upwave generates the downwave (or sidewave), and vice versa. So it is good to be alert here for the inevitable reply to this upwave which now counts 27 days.  Be a Boy Scout.  Be Prepared.

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