next week, page-52

SanFelipe,

This was from Richard R's site last Thursday

'My PTI is now breaking down badly. It hasn't fallen below its March low yet -- that low was an important low at 5924. Yesterday my PTI closed at 5929. I'm afraid that if or when my PTI falls under 5924, the market could get chaotic on the downside. I've seem this happen before when a key number is broken by my PTI. What I'm really afraid of, and I hesitate to say this, is that if 5929 is violated, this market could crash.

I don't think 98% of investors, and this includes professionals, have any idea of how fragile this market is, and how close the price structure is to a dramatic collapse'

Richard has changed his opinion a lot over the past 2 - 3 months, but he definitly knows his stuff, but I sense that even he is baffeled by this market:

'Now that I've got all that off my mind, it's on to the markets, and let's get deadly serious. When I got yesterday's Lowry's figures, I gasped. I've been following the Lowry's service since the '60s, and I've never seen figures like these. The spread between the Buying Power Index (demand) and the dominating Selling Pressure Index widened yesterday by 20 points (supply surged while demand sagged). The negative spread as of yesterday was 504 points. This is the greatest negative spread in the 75-year history of Lowry's.'