MikeAI, I was wrong

wig · 12-02-2003

A couple of months ago I said that the market was topping and that the "meat of the move has been seen".

I was wrong! Although the market has not gained much ground since, it has elongated the advance and cycle period and closed at levels that signal another rally into mid 2004.

10,380 - 10,650/DJIA is the target for next year, ideally around July 4th!

Now, in traditional counter intuitive fashion, once the market confirms its' longer-term direction the first reaction is usually counter-trend.

Look for a quick decline in December to set the stage for the next advance!

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12-02-2003	#1
wig Members Join Date: Oct 2002 Posts: 1,248	A couple of months ago I said that the market was topping and that the "meat of the move has been seen". I was wrong! Although the market has not gained much ground since, it has elongated the advance and cycle period and closed at levels that signal another rally into mid 2004. 10,380 - 10,650/DJIA is the target for next year, ideally around July 4th! Now, in traditional counter intuitive fashion, once the market confirms its' longer-term direction the first reaction is usually counter-trend. Look for a quick decline in December to set the stage for the next advance!