The Joker must be in charge… or maybe the Riddler. I got home from our local Cub Scouts meeting last night and looked through the charts. There really isn’t anything to discuss that hasn’t been covered. We are waiting for congress to decide what to do. I read a few news articles about the Republican plan and I do like it. But if it won’t work, as Paulson has told them, then lets move on to something that will work.
The VLE, RUT, and TRAN charts remain in a strong position. But my guess is this will change with whatever plan congress eventually argrees to. I look at the systems as healthly but with a bad cold. The “doctors” can treat the cold or ignore it. If the “doctors” decide to treat the cold , they can give it the correct medicine or something to make the conditions worse. If the “doctors” provide the right treatment then the sytstem will become healthy again … but it may take several months to see improvement. If the “doctors” do the wrong thing then the system dies. We usually trust our doctors. I have about 50% confidence about our economic “doctors”.
Post Modified: September 26th, 2008 at 8:44 am
Tags: Russell 2000 Smallcaps · Transports · Value Line Arithmetic Index (VLE)2 Comments
2 responses so far ↓
This is it Andy, the big 3 down has started, there is nothing positive about anything that they do now. Even if they pass something, it is now the taxpayers burden, there is nothing to hold it up, people will make a run for their $ at the banks, maybe not right away, but soon. I already got my cash out, I am seeing bad things, its time for “GGS”, Guns, Gold, and Silver, There is no support left in this Larger degree C wave, the way I see it we are heading for 1987’s low’s. This is just the beginning though, the real destruction is only less than a year away. Its just time to be down right Bearish. Hang On this is gonna be a heck of a ride…..bummmpy, scary but hope they pay us when its done. Have a nice weekend,
Libby - you may be right on big 3. I disagree with the taxpayer burden part. It is already a taxpayer burden. The fix will make it less of a burden. But as always, I could be completely wrong…