Tech talk: The ldes of August

摘要

In August 2007, I noted here that equity index markets were close to a historic pivot. That column stated the end of September 2007 was the 260th week off the old bear market bottom. The market stretched a bit but did give us that all important turn on Oct. 11-12th, just two weeks later on week 262. These cycles line up once a decade and have the potential for historic turns. The bear market that materialized cer-rntainly proved those calculations to be right on the money.rnThere is nothing of the magnitude lining up, but August tends to provide interesting technical turning points. In this decade, the month of August has given us two. Perhaps the most important was the Aug. 13, 2004 turn, which ended an intermediate level correction in the equity indexes.