Posted by Robert Campbell on July 16, 2003 at 10:59:53:
John, you are absolutely correct about the need to identify the time frame for trend reversals.
Personally, I like the short-term trends in most of the commodity and financial markets.
Interestingly, after Greenspan tried to talk down the chance that interest rates would start to rise (because of the economy is strengthing), bond prices plunged and interest rates soared.
The market talks louder than the Fed, and that’s why knowing how to read a chart (1-2-3 trend reversal patters, for example, short-term or long-term) offer valuable clues to the direction that any given market is likely to go next.