Waves, Patterns & Projections (2003)

I'm still around chaps and trying to keep the header up to date but with 5 consecutive highs for FTSE and 6 out of the last 8 for DOW its keeping me pretty busy. At least WPP isn't doing a stroke !

Trying to be patient and waiting to see where the bourses get to around about next Tuesday (06/01/2004). With at least 400 points downside on offer for DOW I ain't going Long that's for sure.........this is one time where the trend is well and truly false.........this is a freak 25+ day miniral and the corollary pullback pattern will undoubtedly be similarly freakish. The EOY Doodle tax thing and the re-emergence of serious sellers after their breaks appear to be the missing ingredients.

In accordance with the expected end of Phase pattern, tempting to try and take the initial c(02.5%) drop but will try and resist that and wait for the top of the first contra-trend miniral. I am convinced minidec No 2 will be a large one and well worth waiting for..........but the pattern has to become established first and both DOW and FTSE may have quite a bit of upside left in them before the Down phase gets underway.......forget wave and segment consolidation now cos they've gone too high IMHO.