I think the following will help those who are looking for targets and wave structures....
As I have said, both the DOW and the S&P have exhibited waves 1, 2, 3, down from the high yesterday and it appears that we are now in wave 4. If you take a look at the following charts, one for the DOW and one for the S&P, you can see that I have outlined the waves as I see them in light blue. Waves 1 and 3 atre strong down moves and waves 2 and 4 are like little bubbles at the end of each down wave. We do not have 5 waves yet. In each chart, notice how long the first bubble, or wave 2 took. There should be an hourly turn sometime around 3:15pm and if you look at the charts you can see that the wave 4 bubble should end right about then if it were to be about the same length as wave 2 (dark blue lines). The next down move should complete wave 5 of this series. If you look at the length of the first 2 strong down waves for each chart (Wave 1 and 3) you can see that they have gone about 450 points off the highs for the DOW and about 55 points for the S&P. Divide these by 2 and you have about 225 points per wave for the DOW and about 27 points per wave for the S&P. Since, I like to be modest, I am estimating that the next wave down would be about 200 points for the DOW and about 20 points for the S&P. Thus, potential targets would be about 9300 for the DOW and about 1095 for the S&P.
raptorgroupresearch.com
raptorgroupresearch.com
This would be perfect as it would appear to give the misconception of a higher low off the bottom, when in reality, we have only just completed 1 series of down wave in a larger set and still have waves 2-5 to go.I suspect that wave 2 of the larger series will correct for about 2 days which should lead us into near Friday. Also perfect because there is a major turn point on April 6, and if we are trending up, it would be the best spot to begin the next hard down set of waves, which should lop off quite a few DOW points.
This is a sample of my roadmap, and how I intend to play things over the next 2 weeks or so. |
