weekend warblings, page-2

Volt I have no idea of Elliot and have so much to learn. However my own version of MMA's has served me well.

My version below.

You will note high volume sell down on 30/5. If you look at the cahrt of the XJO below you will se a clear rejection and divergence of the long term MA's.

My only concern is the high volume on the 30/5 on a drop in the XJO. My lack of concern relates to the flat OBV and only slight dip in the RSI. My take on this is the resources sector is propping the failing XFJ, which is diverging at a greater rate than the XJO. In particular the OBV is on a death roll, the XJO is not.

I have had far too many reds to continue this for now, however I believe we will see the next leg down and soon.

I wish I could contribute value as to dates, but I believe I am right. I have divested my holdings accordingly to now hold 50% cash in readiness. If I am wrong I loose nothing, if right I stand to increase my wealth once again. I did this successfully 23/7/07 and 4/01/08.

I do believe the next leg down is imminent, I just don't believe it will be as significant as some would think. Resources is in another bull trend, the banks are in strife.

Ok going now, 3rd bottle of Yallingup' finest has kicked in :)