Wednesday, September 29, 2010

Different Opinions


On Tuesday ADB President Haruhiko Kuroda said, " .... double-dip recession seem unlikely ..... ".

Two days earlier Professor Nouriel Roubini said, " ....... there is a high probability of another recession in US ....... ".



A this moment, I prefer to stick to my own hypothesis, I will maintain my chart reading that Dow is at the tail end of the major bear market rebound, a major wave B rebound, as shown below.



As shown above, the price and volume divergence during wave 1, heavy volume sell 0ff for wave 2 and very low volume for wave 3 are signs of wave B.

In the next few days, if Dow starts to turn down from here, that means wave iii has been completed. However if Dow continues to struggle upward to form five mini waves, then wave iii may move slightly above 11,000 with five mini waves as shown below.



Another scenario as mentioned in my previous post is shown below.

That means so far Dow has not completed its wave 2 as shown below. The wave c's magnitude will be much bigger than the wave iv in the previous scenario.


Lap Lap Chap Chap - Miscellaneous


Someone emailed the following to me. A very good idea, no need to buy plastic clip anymore.


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