Super Cycle Bear.....or just a dramatic ABC..

Here's my take fwiw...I believe "THE" bottom for most markets will be hit when OEX reaches 270 (give or take a point or two)...are we headed there now?...yes....as long as OEX stays below 354..above there we get a bigger bounce....but 270 WILL be hit...we might even see NDX put in a double bottom with the 2002 lows about the same time...(800)
That bottom "could" be the bottom of an ABC wave 2 after retracing 75% of the move out of the 1984 OEX all time low...although OEX was only born in 1983. ......A wave 3 up starting just as everyone has thrown up and swearing to their "higher powers" that they'll never own a stock again in their lives!! How appropriate!
Moving below 265 OEX would put doubts on the above...

http://stockcharts.com/c-sc/sc?s=$OEX&p=M&st=1980-01-01&i=p11228584389&a=119372683&r=8519.png

TP, why did you use 270 as the 95 breakout and not 225?

don't quibble... ..to me 270 was the test of breakout...but overlook the importance of the 75% retrace.. ..but you have to go back and drill down on a daily to see it..

Edited by Teaparty, 05 March 2009 - 09:41 AM.

don't quibble... ..to me 270 was the test of breakout...but overlook the importance of the 75% retrace..

..but you have to go back and drill down on a daily to see it..

Thanks T-Party.

DL