wednesday , page-11

mongombolo & ro7b

Although this post looks at possible downside for the XJO I remain bullish overall, with long positions in several stocks - albeit at lower levels than in March.

Thanks for again inspiring me to take another look & to try another angle. In the charts below I have applied robbbbbbb's speed angles to the XJO, drawing upon all moves down since June 2003. The arrows originate from the intersection of three trend lines - on July 10.

The angle and length of each red arrow approximates one of 28 significant moves down I identified since June, 2003. The yellow oval encloses the endpoint of the majority of red arrows. This shows that just 4 of the 28 moves down would fall below the bottom limit of the yellow oval.

The charts also shows that if a correction is to play out along these lines, based on the past 6 years it will be sharp but relatively short time-wise.

Chart 1: Shows a major channel in which the XJO has been moving.
Chart 2: The second chart focuses on the last 6 months.

Chart 1:


Chart 2:



4YIO - NFA - PDYOR