3 replies to this topic

[steadyquest]

off the march low.  There were no retracements projecting to a higher-order count, so it might be reasonable to view the S&P as presently consolidating in lieu of a defined upside target, or it could be that the downtrend that began Sept 3rd has more to go.  Today's retracement of 3329 lowers my worst case downside target from 2700 to 2349.  jmhguesswork

 

 

[steadyquest]

Oops - I overlooked the retrace of 2740 which points to a potential higher count (green) of 4432.  Though it is possible for the bull to die short of the final target, the odds favor it being achieved.  jmhidioticguesswork

 

[steadyquest]

One more try - the higher count resulting from the 2740 retrace should be as shown below in green.  There is a good chance of acheiving 3774, but 3887 needs to be seen before having too much confidence of 5090 being reached.  On the other hand, come November the sky might fall and crush it all into the ground.  jmhcrazyidioticguesswork

 

[steadyquest]

It ought to be said that the second chart I posted above represents a possible incomplete count (in green) with no retraces, though it came close to retracing in mid-May and again in mid-June (but close only counts in horseshoes and hand grenades), so it could end up being the true count.  I wonder if any other method of forecasting might corroborate one or the other of the green counts in my 2nd and 3rd postings.