INDU

No major top has occured in the 3rd year presidential term since before 1940. So I think we have to take
this in comparison to markets pre-1940. 1929 was actually the 1st year presidential term, the 3rd year was no better.

I think 10,450 is a good target for a decent daily bounce, 8,000 for wave 1 if past repeats. We could see 8,000
by Sept. as was the case in 1929 in terms of timeframe. 1907 was another 3rd year bear market.

The 1929 daily chart is on this blog, so you can see what could happen despite how oversold the oscilators look.
http://blog.afraidto...k-market-crash/

Really interesting charts. Thanks for posting them. I suspect we're in 1937. Good luck and good trading.

Really interesting charts. Thanks for posting them.

I suspect we're in 1937.

Good luck and good trading.

Thanks.

Could be 37. Either way, the 61.8% gets hit at 9,000, it will either be a wave 1 of 5(which would mean 5 would end
around 4-5,000 or 5 of A of an abc flat as in 37. The problem with 37 is it took a whole year from the B wave top to hit the
61.8. This market has dropped a lot in just two weeks. Looks more impulsive than 37 off the top.


http://www.examiner....#slide=34211081