Did you know August 25, 1987 marked the start of five waves down whose third wave was formed by the [20+%] crash of October 19, 1987? I neglected mentioning this yesterday. Not that it's anything other than a curiosity. Yet what was true yesterday, August 25, 2009, remains true today...
Top might be in.
Or maybe not. Wave 4 of v of 5 of C possibly is yet to complete (meaning wave 5 of v of 5 of C is still to come).
It does not matter because top appears very near. The right conditions already have registered announcing a reversal of trend is in store.
Do you see December '08 - January '09 how prior, solidly sell-side RSI (i.e. below 50) reversed to the buy-side of its balance (i.e above 50)? Following this "announcement" of a pending trend reversal, $NYA's bottom was set.
Fast forward June - July '09 and what had been solidly buy-side RSI coinciding with the market's advance off March bottom reversed to the sell-side of the balance.
And there you have it. Who says "they don't ring a bell" when things are about to turn?
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© The Risk Averse Alert — Advocating a patient, disciplined approach to stock market investing. Overriding objective is limiting financial risk. Minimizing investment capital loss is a priority.
Analysis centers on the stock market's path of least resistance. Long-term, this drives a simple strategy for safely investing a 401(k) for maximum profit. Intermediate-term, investing with stock index tracking-ETFs (both their long and short varieties) is advanced. Short-term, stock index options occasionally offer extraordinary profit opportunities when the stock market is moving along its projected path.
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