tag:blogger.com,1999:blog-3310402797768514899.post6363143960972643671..comments2023-11-05T03:39:11.575-05:00Comments on The Technical Take: The New World Of InvestingGuy M. Lernerhttp://www.blogger.com/profile/09198161809721597881noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-3310402797768514899.post-88191428000187463522009-12-02T17:22:01.550-05:002009-12-02T17:22:01.550-05:00Unless it's a case of apples and oranges, it a...Unless it's a case of apples and oranges, it appears the Elliott Wave folks have a different opinion on the future direction of regional banks (see commentary below). While you have more credibility (e.g., XLU) than the EW'ers (e.g., market turning point on 16-17 Nov 2009), I would be interested in hearing your rationale in rebuttal.<br /><br /><br />[Source ... http://www.elliottwave.com/freeupdates/archives/2009/11/25/Is-The-Financial-Crisis-Really-Over-These-THREE-Signs-Say-Everything.aspx]<br /><br />Not so. Despite $13-plus TRILLION in bailout money, the main benchmark index for the U.S. banking sector -- the KBW Index -- is still more than 60% BELOW its 2007 peak. Further more, on page seven of the November 2009 Elliott Wave Financial Forecast (EWFF, for short), our analysts present a labeled close-up of the KBW that shows a major, trend-changing event underway. In EWFF's words: <br />"The Index violated a [key] trendline, confirming the start of a major leg... this is a strong signal" that the credit crisis is not yet over.Anonymousnoreply@blogger.com