Two weeks ago in my last report I said, “that if a counter trend confirmation of a possible high didn’t happen the market should push up to 3962 where it will find major resistance.” There was no counter trend confirmation and it kept heading up. Well it is there now! And the XJO is almost there … it will probably get there tomorrow (Monday, December 6) before it turns.
This week I expect the market to turn on Monday, December 6. That will be down! There is another possible reversal on Monday, December 13, 2004. We are waiting for a counter trend to confirm whether the high is in for the 20.5-month cycle.
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