George, right now, my initial target is that fierce resistance in the 1695/1710 area, but until I see how we get there, I have no target, gee, so far we got only one GNT, to get such a powerful move we need at least 3 GNT's, if we get five, then the bounce might even get to the 30% plus area, and maybe challenge 1834. I got to modify targets according to the market's action. The broad temporal movement is relatively well set, but the actual targets, much more difficult. Early in March I still thought we had a chance of taking the January highs during the then forecasted double top of April and May, I gave up on that only on 4/22 when we failed to go above 1834 and then failed to hold 1770, forcing me to done my bear suit. Thus while the general pendulum movements were relatively well forecast, the amplitudes were not... well, c'est la vie.. This bear suit is exactly two months old and we covered so far 400 Naz points, not a bad "to the hills" call (g).
Zeev |
