george....heres a chart of the retrace....we should hit that channel around fall...maybe oct-nov...
stockcharts.com[h,a]daclyiay[d19960213,19970120][pb9!b13!b20!h.02,.20!b200!b150!b50!f][vc60][iUb14!La8,17,9!Lh5,5!Le5,10,1!Li10,10!Lp14,3,3!Ll14!Lo15]&pref=G
likely get a bounce off it to 1200 leading into 2003....
then the final dump to 800.....
heres the entire picture starting with where we are today around 1500.....its all there in the next waves down...
stockcharts.com[h,a]daclyiay[d19950213,19970713][pb9!b13!b20!h.02,.20!b200!b150!b50!f][vc60][iUb14!La8,17,9!Lh5,5!Le5,10,1!Li10,10!Lp14,3,3!Ll14!Lo15]&pref=G
you can see our next down.....the thing folks call the summer rally back to 1400....
the dump to 1000 likely in oct-sept....
a little ramp back to 1250 to end the year.....
and the final capitulation of the retrace to 800 area by next spring...
all neatly packaged and fits right in with the dow retrace of 34 months which nasdaq is now 26 months into it....
do the math...see the 3- more waves down....hitting that channel of 1000 right around the normal oct dump timeframe.... |
