@ Screener.... 350 USD ?....
When the cog gets bigger than the wheels, the same old bag of tricks just don't work that well anymore.
Got gold ?
http://www.321gold.com/editorials/chan/chan101705.html
Anyway,....
Some other interesting comparisons with 1987 are the solar and lunar eclipses. In 1987 there was a solar eclipse on September 23 coinciding with a short-term market bottom on September 22. The market topped on October 2 and started its collapse on October 6 generally coinciding with the lunar eclipse on October 7. This year we had a solar eclipse on October 3, 2005 that has thus far coincided with a short-term top. The lunar eclipse is on Monday October 17, 2005. While the chart below has suggested a collapse to 8000 on the Dow Jones Industrials we don't believe that is realistic at this time. More realistic would be a drop to the 9800 zone where there would be considerable support. A collapse to 8000 or even lower is not anticipated until sometime in 2006. But patterns may remain very similar.
It is possible that the tops and bottoms have been reversed from the 1987 pattern and we may see a low sometime around October 17 this time or it may signal the start of an acceleration that doesn't bottom until sometime around October 31 through to November 4. At that point we could reach our potential targets of 9700/9800 on the Dow Jones Industrials. This would put the S&P 500 down somewhere around 1050 and the lows seen in 2004. The key support levels in the interim are at 10000 for the Dow Jones Industrials and 1150 on the S&P 500. The lower levels only become possible on a sharp break below those support levels otherwise lows could be made in that area.