:: Market WrapUp: Market Continues to Trade Multiple Head and Shoulders Reversal

ozymandius (1000+ posts)

Fri Jun-06-08 10:31 AM Response to Original message

1. Market WrapUp: Market Continues to Trade Multiple Head and Shoulders Reversal

(With an Ominous Exception) BY MARTIN GOLDBERG, CMT A logical pattern that fits the behavior of the S&P 500 is that of the multiple head and shoulders (HAS) reversal pattern. This article references the characteristics of the pattern as described in Technical Analysis of Stock Trends by Edwards and Magee, a book that should be a cornerstone of a technical analyst's library. As stated on page 75 of the 8th edition, these selected quotes help to describe the multiple head and shoulders reversal (emphasis added by Martin), “(multiple head and shoulders) patterns may be described quite sufficiently as Head-and-Shoulders Reversals is which either the shoulders or head, or both, have been double or proliferated into several distinct waves… ...They appear with fair frequency at Primary Bottoms and Tops, but more often at Bottoms than Tops. They appear less frequently at Intermediate Reversals. ...Still another, of which you will usually find several good examples at any Major Market Turn, consists of double shoulders on either side of a head which is itself composed of a small but quite distinguishable Head-and-Shoulders development. ...We have mentioned the tendency toward symmetry in the simple Head-and-Shoulders Formation. Patterns of the Multiple or Complex type show an even stronger urge toward symmetry – so strong, in fact, that it may be counted on in determining trading policy. If there are two shoulders on the left, there will almost always be two on the right of nearly the same size and formation until the right shoulder becomes evident. (Of course, one does not know that a Multiple is in the process of formation until the right shoulder becomes evident.) Except for volume, the right-hand half of the pattern is, in the great majority of cases, an approximate mirror image of the left. ...Up-sloping and down-sloping variants seldom appear in this class of patterns; necklines are almost always very close to the horizontal. Below is the proposed multiple Head-and-Shoulders pattern depicted in the weekly chart in early December. At that time, the pattern could only have been proposed since it had not yet been completed. The gray line in the chart below depicted the general price action that would have occurred in the future if the pattern were to remain valid. Volume guidelines are also shown in the chart. The forward price and volume action were based on the characteristics described by Edwards and Magee – including one head and two shoulders, symmetry, volume patterns, and horizontal necklines. Since the pattern had not been completed, it was a relevant question to ask the basis for suggesting this pattern. This would seem to suggest that if the pattern is valid, the price objective of the multiple HAS pattern will take the S&P 500 to about 1225, but not below. This conclusion would be supported by the need of the government and Fed to avoid a severe stock market correction in the face of negative economic fundamentals. If they cannot keep the stock market correction “leisurely,” the feedback loop into the US consumer and the wealth effect will have a spiraling effect back to the US stock market and in turn, back to the economy and again back to the stock market. http://www.financialsense.com/Market/wrapup.htm

::> Bilderberg Announces 2008 Conference

gulfcoastliberal (1000+ posts)

Fri Jun-06-08 04:18 AM Original message

Bilderberg Announces 2008 Conference

Source: businesswire.com CHANTILLY, Va.--(BUSINESS WIRE)--The 56th Bilderberg Meeting will be held in Chantilly, Virginia, USA 5 – 8 June 2008. The Conference will deal mainly with a nuclear free world, cyber terrorism, Africa, Russia, finance, protectionism, US-EU relations, Afghanistan and Pakistan, Islam and Iran. Approximately 140 participants will attend, of whom about two-thirds come from Europe and the balance from North America. About one-third is from government and politics, and two-thirds are from finance, industry, labor, education and communications. The meeting is private in order to encourage frank and open discussion. Bilderberg takes its name from the hotel in Holland, where the first meeting took place in May 1954. That pioneering meeting grew out of the concern expressed by leading citizens on both sides of the Atlantic that Western Europe and North America were not working together as closely as they should on common problems of critical importance. It was felt that regular, off-the-record discussions would help create a better understanding of the complex forces and major trends affecting Western nations in the difficult post-war period. The Cold War has now ended. But in practically all respects, there are more, not fewer, common problems - from trade to jobs, from monetary policy to investment, from ecological challenges to the task of promoting international security. It is hard to think of any major issue in either Europe or North America whose unilateral solution would not have repercussions for the other. Thus the concept of a European-American forum has not been overtaken by time. The dialogue between these two regions is still - even increasingly - critical. What is unique about Bilderberg as a forum, is the broad cross-section of leading citizens that are assembled for nearly three days of informal and off-the-record discussion about topics of current concern especially in the fields of foreign affairs and the international economy; the strong feeling among participants that in view of the differing attitudes and experiences of the Western nations, there remains a clear need to further develop an understanding in which these concerns can be accommodated; the privacy of the meetings, which has no purpose other than to allow participants to speak their minds openly and freely. In short, Bilderberg is a small, flexible, informal and off-the-record international forum in which different viewpoints can be expressed and mutual understanding enhanced. Bilderberg's only activity is its annual Conference. At the meetings, no resolutions are proposed, no votes taken, and no policy statements issued. Since 1954, fifty-five conferences have been held. The names of the participants are made available to the press. Participants are chosen for their experience, their knowledge, and their standing; all participants attend Bilderberg in a private and not an official capacity. Read more: http://www.businesswire.com/portal/site/google/?ndmView... Fascinating.. --> List of Bilderberg Participants: http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x3400562

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Replies to this thread

Yes, but who are they?	DCKit	Jun-06-08 04:31 AM	#1
Good questions - apparently our "free press" doesn't think it's important to ask!	gulfcoastliberal	Jun-06-08 04:34 AM	#2
We can call 703-818-3647 to find out.	greyl	Jun-06-08 04:41 AM	#3
Good find!	MelissaB	Jun-06-08 02:01 PM	#7
The decide the fashion trends for the next 5 years! LOL nt	Javaman	Jun-06-08 02:54 PM	#10
My guess - Obama AND Hillary will 'slip in' to the meeting (if they haven't already tonight).	Dover	Jun-06-08 05:31 AM	#4
convenient scheduling, too	itsjustme	Jun-06-08 12:01 PM	#6
"322" n/t	Earth_First	Jun-06-08 11:22 AM	#5
I'm sorry, I know I'm out of the loop but...	petepillow	Jun-06-08 02:37 PM	#8
I'll climb out on a branch and guess:	igil	Jun-06-08 04:14 PM	#11
And once again... I wasn't invited.	Prag	Jun-06-08 02:41 PM	#9

... Further Comment:

aquart (1000+ posts)

Sat Jun-07-08 02:23 AM Response to Original message

21. Ah, so they both went to the Bildersberg conference!

And Hillary opened a vein and Obama drank her blood while the powerbrokers applauded.

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nebula (1000+ posts)

Sat Jun-07-08 04:13 AM Response to Reply #21

34. No doubt!

Jim Johnson, a member of Friends of Bilderberg, is one of the three members of Obama's VP selection committee (the other two being Caroline Kennedy and Eric Holder). Johnson's name also appears on this year's Bilderberg Conference guest list. The report lists Johnson as a member of "American Friends of Bilderberg," which is an offshoot Bilderberg front group that has accepted donations from the Ford Foundation to fund Bilderberg meetings where lavish hotels are entirely booked up for three days, by no means an inexpensive feat. The organization is basically a steering committee for the Bilderberg Group - a secretarial outpost through which Bilderberg conferences are organized. Johnson has also directly attended Bilderberg meetings therefore can be classed as a Bilderberg luminary. He attended last year's meeting in Istanbul, Turkey. Johnson is also "A vice chairman of the private banking firm Perseus LLC, a position he has held since 2001. He is also a board member at Goldman Sachs, Gannett Company, Inc., a media holding group, KB Home, a home construction firm, Target Corporation, Temple-Inland, and UnitedHealth Group." Predictably, he is also also a member of the Trilateral Commission and the Council on Foreign Relations. James A. Johnson (center): Ultra-elitist Bilderberg luminary and corporate capo who will select the potential future U.S. President. This would be the second presidential race running that the Bilderberg Group has been instrumental in helping to select the running mate for the Democratic candidate. In 2004 it was reported that John Edwards' performance at the Bilderberg conference in Italy was a key factor in his selection as John Kerry's number two. Bilderberg attendees even broke house rules to applaud Edwards at the end of a speech he gave to the elitists about American politics. Bilderberg has a proven history of acting in a kingmaker capacity. Both Bill Clinton and Tony Blair attended Bilderberg meetings in the early 90's before becoming President and Prime Minister respectively.

...

muriel_volestrangler (1000+ posts)

Sat Jun-07-08 09:40 AM Response to Original message

40. 'Speculation'? The reality is they met at Diane Feinstein's house

Barack Obama and Hillary Clinton met privately Thursday night at the Washington home of Sen. Dianne Feinstein, a key supporter of Clinton's presidential campaign, Feinstein said Friday. She left them in her living room with nothing other than water and comfortable chairs for what she called a positive meeting. No one else was in the room, and no one is giving details of what was discussed. ... The meeting began at 9 p.m. and lasted about an hour, Feinstein said. ... It was the two Democratic candidates' first meeting since Obama became the party's presumptive nominee Tuesday. http://edition.cnn.com/2008/POLITICS/06/06/clinton.obam... Sorry to pour cold water on a conspiracy theory that the enthusiasts here would like to take flight.

...


BILDERBERG 2008 ATTENDEE LIST



DEU, Ackermann, Josef, Chairman of the Management Board and the Group Executive Committee, Deutsche Bank AG

CAN, Adams, John; Associate Deputy Minister of National Defence and Chief of the Communications Security Establishment Canada

USA, Ajami, Fouad, Director, Middle East Studies Program, The Paul H. Nitze School of Advanced International Studies, The Johns Hopkins University

USA, Alexander, Keith B., Director, National Security Agency

INT, Almunia, Joaquín, Commissioner, European Commission

GRC, Alogoskoufis, George, Minister of Economy and Finance

USA, Altman, Roger C., Chairman, Evercore Partners Inc.

TUR, Babacan, Ali, Minister of Foreign Affairs

NLD, Balkenende, Jan Peter, Prime Minister

PRT, Balsemão, Francisco, Pinto Chairman and CEO, IMPRESA, S.G.P.S.; Former Prime Minister

FRA, Baverez, Nicolas, Partner, Gibson, Dunn & Crutcher LLP

ITA, Bernabè, Franco, CEO, Telecom Italia Spa

USA, Bernanke, Ben S., Chairman, Board of Governors, Federal Reserve System

SWE, Bildt, Carl, Minister of Foreign Affairs

FIN, Blåfield, Antti, Senior Editorial Writer, Helsingin Sanomat

DNK, Bosse, Stine, CEO, TrygVesta

CAN, Brodie, Ian, Chief of Staff, Prime Minister’s Office

AUT, Bronner, Oscar, Publisher and Editor, Der Standard

FRA, Castries, Henri de, Chairman of the Management Board and CEO, AXA

ESP, Cebrián, Juan Luis, CEO, PRISA

CAN, Clark, Edmund, President and CEO, TD Bank Financial Group

GBR, Clarke, Kenneth, Member of Parliament

NOR, Clemet, Kristin, Managing Director, Civita

USA, Collins, Timothy C., Senior Managing Director and CEO, Ripplewood Holdings, LLC

FRA, Collomb, Bertrand, Honorary Chairman, Lafarge

PRT, Costa, António, Mayor of Lisbon

USA, Crocker, Chester A., James R. Schlesinger Professor of Strategic Studies

USA, Daschle, Thomas A., Former US Senator and Senate Majority Leader

CAN, Desmarais, Jr., Paul, Chairman and co-CEO, Power Corporation of Canada

GRC, Diamantopoulou, Anna, Member of Parliament

USA, Donilon, Thomas E., Partner, O’Melveny & Myers

ITA, Draghi, Mario, Governor, Banca d’Italia

AUT, Ederer, Brigitte, CEO, Siemens AG Österreich

CAN, Edwards, N. Murray, Vice Chairman, Candian Natural Resources Limited

DNK, Eldrup, Anders, President, DONG A/S

ITA, Elkann, John, Vice Chairman, Fiat S.p.A.

USA, Farah, Martha J., Director, Center for Cognitive Neuroscience; Walter H. Annenberg Professor in the Natural Sciences, University of Pennsylvania

USA, Feldstein, Martin S., President and CEO, National Bureau of Economic Research

DEU, Fischer, Joschka, Former Minister of Foreign Affairs

USA, Ford, Jr., Harold E., Vice Chairman, Merill Lynch & Co., Inc.

CHE, Forstmoser, Peter, Professor for Civil, Corporation and Capital Markets Law, University of Zürich

IRL, Gallagher, Paul, Attorney General

USA, Geithner, Timothy F., President and CEO, Federal Reserve Bank of New York

USA, Gigot, Paul, Editorial Page Editor, The Wall Street Journal

IRL, Gleeson, Dermot, Chairman, AIB Group

NLD, Goddijn, Harold, CEO, TomTom

TUR, Gögüs, Zeynep, Journalist; Founder, EurActiv.com.tr

USA, Graham, Donald E., Chairman and CEO, The Washington Post Company

NLD, Halberstadt, Victor, Professor of Economics, Leiden University; Former Honorary Secretary General of Bilderberg Meetings

USA, Holbrooke, Richard C., Vice Chairman, Perseus, LLC

FIN, Honkapohja, Seppo, Member of the Board, Bank of Finland

INT, Hoop Scheffer, Jaap G., de Secretary General, NATO

USA, Hubbard, Allan B., Chairman, E & A Industries, Inc.

BEL, Huyghebaert, Jan, Chairman of the Board of Directors, KBC Group

DEU, Ischinger, Wolfgang, Former Ambassador to the UK and US

USA, Jacobs, Kenneth, Deputy Chairman, Head of Lazard U.S., Lazard Frères & Co. LLC

USA, Johnson, James A., Vice Chairman, Perseus, LLC (Obama’s man tasked with selecting his running mate)

SWE, Johnstone, Tom, President and CEO, AB SKF

USA, Jordan, Jr., Vernon E., Senior Managing Director, Lazard Frères & Co. LLC

FRA, Jouyet, Jean-Pierre, Minister of European Affairs

GBR, Kerr, John, Member, House of Lords; Deputy Chairman, Royal Dutch Shell plc.

USA, Kissinger, Henry A., Chairman, Kissinger Associates, Inc.

DEU, Klaeden, Eckart, von Foreign Policy Spokesman, CDU/CSU

USA, Kleinfeld, Klaus, President and COO, Alcoa

TUR, Koç, Mustafa, Chairman, Koç Holding A.S.

FRA, Kodmani, Bassma, Director, Arab Reform Initiative

USA, Kravis, Henry R., Founding Partner, Kohlberg Kravis Roberts & Co.

USA, Kravis, Marie-Josée, Senior Fellow, Hudson Institute, Inc.

INT, Kroes, Neelie, Commissioner, European Commission

POL, Kwasniewski, Aleksander, Former President

AUT, Leitner, Wolfgang, CEO, Andritz AG

ESP, León Gross, Bernardino, Secretary General, Office of the Prime Minister

INT, Mandelson, Peter, Commissioner, European Commission

FRA, Margerie, Christophe de, CEO, Total

CAN, Martin, Roger Dean, Joseph L. Rotman School of Management, University of Toronto

HUN, Martonyi, János, Professor of International Trade Law; Partner, Baker & McKenzie; Former Minister of Foreign Affairs

USA, Mathews, Jessica T., President, Carnegie Endowment for International Peace

INT, McCreevy, Charlie, Commissioner, European Commission

USA, McDonough, William J., Vice Chairman and Special Advisor to the Chairman, Merrill Lynch & Co., Inc.

CAN, McKenna, Frank, Deputy Chair, TD Bank Financial Group

GBR, McKillop, Tom, Chairman, The Royal Bank of Scotland Group

FRA, Montbrial, Thierry de, President, French Institute for International Relations

ITA, Monti, Mario, President, Universita Commerciale Luigi Bocconi

USA, Mundie, Craig J., Chief Research and Strategy Officer, Microsoft Corporation

NOR, Myklebust, Egil, Former Chairman of the Board of Directors SAS, Norsk Hydro ASA

DEU, Nass, Matthias, Deputy Editor, Die Zeit

NLD, Netherlands, H.M. the Queen of the

FRA, Ockrent, Christine, CEO, French television and radio world service

FIN, Ollila, Jorma, Chairman, Royal Dutch Shell plc

SWE, Olofsson, Maud, Minister of Enterprise and Energy; Deputy Prime Minister

NLD, Orange, H.R.H., the Prince of

GBR, Osborne, George, Shadow Chancellor of the Exchequer

TUR, Öztrak, Faik, Member of Parliament

ITA, Padoa-Schioppa, Tommaso, Former Minister of Finance; President of Notre Europe

GRC, Papahelas, Alexis, Journalist, Kathimerini

GRC, Papalexopoulos, Dimitris, CEO, Titan Cement Co. S.A.

USA, Paulson, Jr., Henry, M. Secretary of the Treasury

USA, Pearl, Frank H., Chairman and CEO, Perseus, LLC

USA, Perle, Richard N., Resident Fellow, American Enterprise Institute for Public Policy Research

FRA, Pérol, François, Deputy General Secretary in charge of Economic Affairs

DEU, Perthes, Volker, Director, Stiftung Wissenschaft und Politik

BEL Philippe, H.R.H., Prince

CAN, Prichard, J. Robert S. President and CEO, Torstar Corporation

CAN, Reisman, Heather, M. Chair and CEO, Indigo Books & Music Inc.

USA, Rice, Condoleezza, Secretary of State

PRT, Rio, Rui, Mayor of Porto

USA, Rockefeller, David, Former Chairman, Chase Manhattan Bank

ESP, Rodriguez Inciarte, Matias, Executive Vice Chairman, Grupo Santander

USA, Rose, Charlie, Producer, Rose Communications

DNK, Rose, Flemming, Editor, Jyllands Posten

USA, Ross, Dennis B., Counselor and Ziegler Distinguished Fellow, The Washington Institute for Near East Policy

USA, Rubin, Barnett R., Director of Studies and Senior Fellow, Center for International Cooperation, New York University

TUR, Sahenk, Ferit, Chairman, Dogus Holding A.S.

USA, Sanford, Mark, Governor of South Carolina

USA, Schmidt, Eric, Chairman of the Executive Committee and CEO, Google

AUT, Scholten, Rudolf, Member of the Board of Executive Directors, Oesterreichische Kontrollbank AG

DNK, Schur, Fritz H., Fritz Schur Gruppen

CZE, Schwarzenberg, Karel, Minister of Foreign Affairs

USA, Sebelius, Kathleen, Governor of Kansas

USA, Shultz, George P., Thomas W. and Susan B. Ford Distinguished Fellow, Hoover Institution, Stanford University

ESP Spain, H.M. the Queen of

CHE, Spillmann, Markus, Editor-in-Chief and Head Managing Board, Neue Zürcher Zeitung AG

USA, Summers, Lawrence H., Charles W. Eliot Professor, Harvard University

GBR, Taylor, J. Martin, Chairman, Syngenta International AG

USA, Thiel, Peter A., President, Clarium Capital Management, LLC

NLD, Timmermans, Frans, Minister of European Affairs

RUS, Trenin, Dmitri V., Deputy Director and Senior Associate, Carnegie Moscow Center

INT, Trichet, Jean-Claude, President, European Central Bank

USA, Vakil, Sanam, Assistant Professor of Middle East Studies, The Paul H. Nitze School of Advanced International Studies, Johns Hopkins University

FRA, Valls, Manuel, Member of Parliament

GRC, Varvitsiotis, Thomas, Co-Founder and President, V + O Communication

CHE, Vasella, Daniel L., Chairman and CEO, Novartis AG

FIN, Väyrynen, Raimo, Director, The Finnish Institute of International Affairs

FRA, Védrine, Hubert, Hubert Védrine Conseil

NOR, Vollebaek, Knut, High Commissioner on National Minorities, OSCE

SWE, Wallenberg, Jacob, Chairman, Investor AB

USA, Weber, J., Vin CEO, Clark & Weinstock

USA, Wolfensohn, James D., Chairman, Wolfensohn & Company, LLC

USA, Wolfowitz, Paul, Visiting Scholar, American Enterprise Institute for Public Policy Research

INT Zoellick, Robert B. President, The World Bank Group

Rapporteurs

GBR, Bredow, Vendeline von, Business Correspondent, The Economist

GBR, Wooldridge, Adrian D., Foreign Correspondent, The Economist



AUT Austria HUN Hungary

BEL Belgium INT International

CHE Switzerland IRL Ireland

CAN Canada ITA Italy

CZE Czech Republic NOR Norway

DEU Germany NLD Netherlands

DNK Denmark PRT Portugal

ESP Spain POL Poland

FRA France RUS Russia

FIN Finland SWE Sweden

GBR Great Britain TUR Turkey

GRC Greece USA United States of America

/. http://americanfreepress.net/html/bilderberg_list_2008.html

Discussion here: http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x3398720