> Heyy Leslie,
>
> I am bias towards a major top forming in the major indices....looking at the Dow specifically...
> However it may be months in the making, considering also it's a presidential year in the US...
>
> What is interesting I thot is that the talking heads have changed their view recently as the bullish sentiment persist....
>
> The monthly chart shows a conventional textbook triangle consolidation....my bias is that price action will breakout of the horizontal resistance at 132.... Finish of the 5th wave and form a major top....And it's in line with declining volume/price increase of 5th wave
>
>
> The weekly chart however show the Stochastics reaching o/b levels, so a minor correction may be in the making ....price action I think will stay within the short term upward trend line....
>
> I am bias towards a minor correction in the weeks ahead.....after which price will break out of current resistance and form a major top......after the presidential election, and that will bring us to 2013....as much as Sony production will like their movie's "2012" catastrophe to happen, I think they will be dissappointed....and even the ardent Mayan prophecies fan have changed their tune ....hahahah.....like all practical prophets do..... :)
>
> I am a incurable bear but as long as price action stay with the little upward trend and above the moving averages, and don't fall below 128 or even 130, I think there is still some more upward action.....just becasue maybe stock indices are long divorced from economic reality.... :)
>
> * actually to think about it, the death cross video....I have a funny feeling the death cross will not happen....but the 50ma will actually bounce off the 200ma support....at least for now... :)
>
>
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