market watch - friday, page-34

The best thing about these turns and corrections is it brings out everyones chart idea's. Good or bad.



Dr Doom, I'm not saying I disagree with this bit here

"Tim Morge says it is ok to take the line of best fit for the ML without anchoring it on a specific turn"

and I'm definately not in a position to argue with Tim the whale, if something works how can it be wrong? Taking the line of best fit means you have to have extra data on your chart and it kind of takes away some of the predictive value of pitchforks, then it becomes more of a trend channel to me.

Here's one from the 1987 crash that predicted the entire stealth phase of the 2007 bull and gave us the 2003 bear trap. Now it remains as the LT trend and it shows the 2009 overshoot and regression to the trend as we spiral back in on the ML. All from the initial 3 anchor points.