Friday, September 08, 2006 6:32:21 AM
first important cyclic indication that the major uptrend in crude may be over. Hurst methods label the move from the sept 03 area as a "pseudo trend", a trend generated not just by cycles but by a long lasting fundamental event(s). pseudo trend causes large amplitude increases in all cycles from minor to major and generally is accompanied by volume increases. once the causative fundamentals have waned, there may be an equally sharp reaction in the opposite direction. the stock indexes showed pseudo trend in the late 90's to 00, and then showed a reaction back down. whether that occurs in crude remains to be seen.
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