Monday, November 05, 2007
Three Peaks and a Domed House
This is an update on the status of two examples of George Lindsay's Three Peaks and a Domed House formation. I last commented on this subject here. All of my George Lindsay posts can be found here.
The first chart you see above this post shows my interpretation of a minor formation. The numbers correspond to the Lindsay's numbering of the ideal formation which you can see here.
I think that the drop from the October 11 top is the decline to point 22, with the peak of the domed house, point 23, still ahead of us. I now am estimating January 15 as the date for point 23. This is 7 months and 10 days from point 16.
The second chart shows a mini-formation. Here I think we are in the middle of the "five reversals" part of the domed house, points 15-20. Once point 20 is reached we should begin a rally to point 23 which again I see as developing in mid-January. This coincides with one of Lindsay's top-to-top counts which he asserted nearly always will be found timing the bull market top.