Fibonacci still at work

The SPX started down from 1344 and wave one bottomed at 1294, wave two was an overlapping mess which peaked at 1332. Wave three bottomed at an 1.618 extention at 1250. Wave four alternated with wave two and peaked at 1288.88 today, short of wave ones low. wave five down started today and I would suspect that next week the spx trade down to between 1242 and 1228 to end the first small wave down in what promises to be Hell on Earth for those who have trusted in the words of our leaders. Get prepared. Discuss at your leasure. TE

Edited by The End, 18 March 2011 - 08:39 PM.

do i understand you right - that you count this as wave 5 of larger wave 1 down - so that gives us two degrees -so, for larger wave 5 down - do you have any targets - time and price, and do you expect an abc after that or would that larger wave sequence be part of yet a larger wave 1 down? how do you see inflation effecting your scenario? tia,

I have learned (read scare tissue) that the market is quite humbling and that it makes no real sense to try and look too far ahead but, should we work our way down toward 1200 next week, I would think we have a completed five wave count for the first time in over two years. A retracement of some degree would then be in order, perhaps back to 1278ish and then another impulsive move lower. At this point that is all I want to entertain.

I have learned (read scare tissue) that the market is quite humbling and that it makes no real sense to try and look too far ahead but, should we work our way down toward 1200 next week, I would think we have a completed five wave count for the first time in over two years. A retracement of some degree would then be in order, perhaps back to 1278ish and then another impulsive move lower. At this point that is all I want to entertain.

And like any great entertainer, you leave the stage with the audience wanting more.

"1242 and 1228" Alow me to refine that for you-1234.34