We have been doing pretty much the opposite of last year on a monthly calendar basis. In 2006, May was down, this year up. In 2006 June was down, this year it was up. Even February and March are flipped. It gets even spookier: In 2006, July 18th was the low. This year, July 20th was the high. Extrapolating on a weekly basis, early August 2006 saw a pullback, followed by a non-stop rally on August 10th which could mean an early August bounce this year, followed by continued selling mid-month. In other words, should the pattern keep repeating itself, I doubt August overall will be bullish but there should be a swing long trade coming any day. Just don't hold on to it.
This entry was posted
on Saturday, July 28, 2007 at 7/28/2007 11:34:00 AM.
You can skip to the end and leave a response.
» Post a Comment