read the whole thread with interest and good on you for referring to the longer game of the market...
daily, weekly fluctuations are our bread and butter but the market has been around for decades..
the old timer that is the market has a few secrets to reveal depending on the time frame one is prepared to investigate..
studying the XJO over 1yr, 5yr and decade it is pretty obvious that a correction is due and the ascending triangle that has formed over the last 9 months is more likely to break to the downside before a move higher...just look what happened to the previous ascending triangle of April 2010 to April 2011..
the sideways nature of the present market transcends most investors timeframes but even using these longer timeframes on the charts can be powerful when planning a superannuation strategy..but not so much for discovering the next ten bagger
of course there are massive opportunities within the sideways market with big swings either way.. but to take advantage one has to accept the inevitable.. the odds of a year on year bull market are against us in favour of a cyclical rally into correction into rally etc where the sum is not greater than the parts..
