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Not overly bearish


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#1 AChartist

AChartist

    Tim

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Posted 30 September 2011 - 05:53 AM

The week really satisfied two conditions that keeps thing confusing. A higher week would top the only supporting shorter length weekly cycles, and a low week increases the forward projections lower. It looks like both happened and becomes the most negative scenerio, however immediate targets are 1067 Fibanocci and a lower parallel channel line at about 1062 next week. Specifically SDS cycles look like Oct 10 high for sds. So that I am only bearish until 1060's but will try to hold short until Oct 10, with stops once SPX 1131 goes. If I get what I want abruptly I will close out in the 1060's and not look for lower until a bounce and the next set of weekly lows in Nov. Inside next week is another short term abrupt dip in sds and the final high should be Oct 10ish. So that it looks like some damage by Monday, bounce and stunning low during Oct 7 -10.

"marxism-lennonism-communism always fails and never worked, because I know

some of them, and they don't work"  M.Jordan