satday shuffle, page-5

i agree that we're still not in safe territory. from memory, mchugh also has 5/10 as an important turn date - his previous important turn dates was the 19-24/7, which as we know was also spot on. in essence, i assume that mchugh foresees the period between 24/7 and 5/10 as a corrective period.

armstrong's economic cycle high peaked late feb (again, this was spot on) and he forecasts the next low in mar 08 - and a final bottom of this economic cycle ending in 2011 (with a minor peak/high in 2009).

given the current precarious state of the u.s. economy, i don't think it is a stretch to imagine that armstrong may be right and we may be in for bear market conditions for quite some time.

time will tell if bernie can manage to starve off a recession in the u.s. - however, with the weakened state of the usd, a cut of interest rates will just send it tumbling further down - which then just introduced further inflationary pressures on an already weakened economy - so it will be interesting to see how he responds.

volume in the u.s. market over the last week has been ultra light - so i'm not sure if we can assume too much til normal trading volume resumes after the labour day weekend.

vix still remains high - which indicates that we may continue to experience further volatility in the near term. there is also a bunch of economic data due out next week which could potential tip the market in either direction.

take what you will from the above post.