Hi Freep,
I'll mention this for giggles, but as bearish as everything is looking, we may be wanting those 1995 levels or lower. Grand NWO conspiracy or just fundamentally. I pulled up a long term chart of the S&P and drew a trendline connecting the 49, 74, and 82 bottoms, it sits around 482 today. There is an even lower one connecting the 32 and 42 bottoms sitting around 270 today.
Think about this, what if the last wiggle that started on 10/10 is ONLY the 2 of 3? And we are just starting the the 3 of 3 down. We "could" crash right here and be in the 3 of 3 of 3. Highly unlikely, but I don't see anyone calling it. EVERYONE is looking for a bottom. We could be at that first trendline by Monday <g/ng> or at least by the 12/14 Bradley.
My buddy at Morgan still watching the obvious 7200 DOW, if we break through that like a warm knife through butter, kind of like 768 yesterday, Citi goes under, and some others, maybe some of the autos, I'll start favoring a 3 of 3 of 3 crash count...lock limit down, crushing the PPT that got us into this mess in the first place...or planned it all along <g/ng>.
I think we're just finishing the 5 of 3 soon, or around 12/14, but everyone else seems to think so too. |
