the bull... the contrarian, page-6

Gday Volt,
Just a different way to look at things.
Here is the weekly chart for the XJO.
Cannot get too bearish until the major upsloping trendline has been breached. Of course even a retest of this line is still another decent drop back to the 5800 area.
I also expect volatility, and some other work I was messing around with on the DJIA gave me the impression of downwards pressure until the second week of October? So another 4 weeks of downwards pressure on our index as well??
That would mean a 480 point drop over 4 weeks on the XJO...of course that is only my take on it, then I would like to think it is back to game on for the bulls?

Cheers

Commy