october 9 10 weekend, page-13

T91 and fellow chartists, excellent post re XJO & it finally proves that the market MUST be about to drop away!!! Reason; after several months of being decidedly BEARISH I have conceded that every chart I look at seems to have "a lot more in the tank."

Looking at your charts (which pleasingly parallel mine!) to get a drop requires a break of recent support on Pink fork then consecutively the green and blue support tine. Hard to get anything other than bullish read from that??

Also looked at Robs vid & most world indices are looking decidedly bullish IMO. Although I do note that he stated that he is basically out of market at mo (I take that as a bearish sentiment?)

So instead of starting from a paradigm of ?the world is stuffed & GFC 2 is around the corner? I think I officially neutral with a bullish edge from today!!!

PS1: I suspect/(know) when you do TA that you are not supposed to have ANY bias but I just find that impossible; I suspect that my latest lesson is just to ?trust the price action a bit more?

PS2: Reality is that we have had a market that has been fairly strong for 5 months and the XJO appreciated by more than 10%

PS3: I know this is not a chat forum but just felt need to share?

Any bears out there with an alternative view supported by TA?

gj