A sign post?

http://www.elliottwave.com/ Credit given below to EWT. I LOVE the service, many pooh pooh its calls, like anything if you look there is value, and good calls have been made. Sentiment data offered is best around and I find it extremely helpful guaging market directon....expecially when it reaches extremes. Below is last paragrapg of NAZ section and summary.


"While the market is oversold near term, other pieces of the bearish puzzle continue to drop into place at larger degrees. The above two charts show the NASDAQ Composite plotted above the NASDAQ 10-day advance/decline volume (the concept comes from the venerable Ned Davis and his cohorts). Yesterday a bearish downside thrust “sell” signal was registered when the 10-day a/d volume fell below .65 (for the first time in 65 days). I’ve published two charts to show the bullish and bearish thrust signals since March 2001. These signals are not short term in nature. The NASDAQ typically will move for weeks or months in the direction of the thrust signal once it is recorded. What is interesting is that yesterday’s signal is similar to the one registered right after the January 2004 NASDAQ high. The appearance of these two signals suggests that the index has recorded a double top and the trend for the index has indeed turned down.[Bottom Line]: The market appears to have completed the initial leg down of a larger market selloff. A near term bounce should carry the indexes to our cited targets before leading to another leg down."

*Did anyone see tonights LUDICROUS Q and A presentation by Leesman? the little bald guy and another goof on CNBC explaining whether "deficits" were "good or bad and why should we care"

I nearly vomited in laughter at the infantile fashion this subject was tackled. "Well....deficits are good right? because it shows how STRONG the US economy is"

I wish I could be making this up! With stage fright and crazy glued lips my 9 yr old son could do better! I would debate those clowns any day any time....me the bozo avg Joe on the street.

Where is it good that America doesn't make anything anymore? EVEN JAPAN is now outsourcing to China! Maybe China will outsource to Viet Nam?

SMH (semi holders ETF) hardly budged today....the day after INTC gave such "sterling" numbers and promised a $ billion increase in capex spending on equipment! It SHOULD have been a gapper higher, IMHO.

WHo didn't know the IPOD would bring killer numbers to AAPL? It's already IN stock, it ramped over $7 AH

Don't you love the TASR saga? Andhow little LENF BB stock has gone from pennies to over $12 then back to $8 and who knows? Story goes....woes at TASR should be good for other tasr wannabees? Something wierd going on here?...seems both LENF and another company bought rights to tasr-like patents? 2 companies.....same guy?.....ONE PINK SHEET went to $48!!! "stinger" and the other a Bulletin Board stock!

If the tech was SO good......would THIS be where you think it would surface?

If TASR tech is killing people...HOW FAST would police run to buy a similar device from a little BB or PINK SHEET company?

Go figure.

Duratek