Bottom or low
#1
Posted 03 April 2009 - 06:56 AM
#2
Posted 03 April 2009 - 07:41 AM
#3
Posted 03 April 2009 - 08:00 AM
#4
Posted 03 April 2009 - 08:03 AM
Some good LT stuff there, if this IS the bottom - then I feel bad for all those people who just recently emptied out the 401k and shunned the market. Its a real shame.
In terms of ST, according to what you are saying - seems like 850-860 comes first then the retrace down into the mid 700s?
That is correct, as of todays wave pattern that is the best odds.
#5
Posted 03 April 2009 - 09:43 AM
Some good LT stuff there, if this IS the bottom - then I feel bad for all those people who just recently emptied out the 401k and shunned the market. Its a real shame.
In terms of ST, according to what you are saying - seems like 850-860 comes first then the retrace down into the mid 700s?
That is correct, as of todays wave pattern that is the best odds.
Larry, appreciate your work..........what happens if we hit Chief's target of 917 with a blip at 870?
CW
#6
Posted 03 April 2009 - 10:13 AM
#7
Posted 03 April 2009 - 10:24 AM
Thanks for that useful info, Larry. I tried laying those levels out on an SPX chart. Using the Oct 2007 high of 1576 and the March 2009 low of 666, I can't get your 838 and 878 levels using the percentages of 25.8 & 31.82. What do you think I'm doing wrong? Thanks.
666 advanced 25.8% not 25.8% of the down wave. 666 x .258 = 171.83 + 666 = 837.8
#8
Posted 03 April 2009 - 10:27 AM
Some good LT stuff there, if this IS the bottom - then I feel bad for all those people who just recently emptied out the 401k and shunned the market. Its a real shame.
In terms of ST, according to what you are saying - seems like 850-860 comes first then the retrace down into the mid 700s?
That is correct, as of todays wave pattern that is the best odds.
Larry, appreciate your work..........what happens if we hit Chief's target of 917 with a blip at 870?
CW
I believe Da Chief allows for a drop to 760 so we are in basic agreement. We could top ths wave in the 860s, drop to 760-740 then up toward 938-998 no problem.
#9
Posted 03 April 2009 - 10:40 AM
#10
Posted 03 April 2009 - 10:47 AM