After the correction is over, I still see a move up to DIA 118.16 (about Dow 11,800) around June 25th, 2010. After that final high, I see Primary Wave 3 (P3) beginning and a 5,000 point drop by the end of the year.
The precise low of the 5.6.2010 came from light blue containment so should that break another 50 pt. slip zone down to burgundy containment which held the $SPX during 2.5.2010 low.
Best you could hope for is a $SPX reaction to 1095 area.
Sun – based on this chart, it seems that the first hits of these points gives a bounce …. back to test the previous level broken – do u think that is reasonable to expect ?
I'm with you Red. I believe this is going to happen also.
That coincides with several cyclist i read like Nenner and Weiss.
the time frame is getting compressed. its going to be a heel of a month.
jim
Jim,
After the correction is over, I still see a move up to DIA 118.16 (about Dow 11,800) around June 25th, 2010. After that final high, I see Primary Wave 3 (P3) beginning and a 5,000 point drop by the end of the year.
SPX bear flag pointing at 1066 area.
That is below Feb lows. I take it you do not see the bounce to form the June 25 top now or at least a RS.
I believe that 875-990 is the target Jim.
Does everyone agree?? ha! That 1044 is the target
The precise low of the 5.6.2010 came from light blue containment so should that break another 50 pt. slip zone down to burgundy containment which held the $SPX during 2.5.2010 low.
Best you could hope for is a $SPX reaction to 1095 area.
Sun – based on this chart, it seems that the first hits of these points gives a bounce …. back to test the previous level broken – do u think that is reasonable to expect ?
Thanks NewBear…
I think we are going down to 990 or lower tomorrow. I hope everyone is hedged properly, as I worry about others too.