tumbling tuesday, page-170

Aweb

I suggest you change your nic before it causes you problems with the moderators, plus I am sure you can find something more appealing.

Regardless of the Elchangie's of this world who proclaimed 7,000, 8,000 and 10,000 last year when it was exteremely unlikely, asking for 1,000 pts by month end is IMO the last thing a thinking bull would want.

I want to be bullish myself but after this decline, the best thing that can happen is for the longer term measures to get technical readings similar to other major declines.

A 1,000 pt rally into month end would negate all the important technical work achieved for an important low.

As for the top last year, XAO 6900 was always the best target and it fell short by just 27 pts and you can't expect perfection on long term targets and in percentage terms is meaningless.

For XAO 1150 has always been the multiple to watch.

The 1987 low was 1149(1150) or 1 X 1150. (out by 1)

The 1987 high was 2312(2300) or 2 X 1150. (out by 12)

The 2002 high was 3444(3450) or 3 X 1150. (out by 6)

The 2007 high was 6873(6900) or 6 X 1150. (out by 27)

Numbers keep working till they don't so plucking magic figures out of the air is low odds.

The odds are than another multiple will work for the next major top.