Technology Stocks & Market Talk With Don Wolanchuk Message Board

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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk

SOXL 38.85

-0.9%

Nov 14 4:00 PM EST

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To: DrO who wrote (76767)	10/14/2012 6:38:43 PM
From: da_cheif™	7 Recommendations Read Replies (4) of 206860

ok....here is the significance of this chart......from about 2010 to the present.....you draw 2 lines in the shape of a symetrical football.....around the tops and around the bottoms.....the points of the football formation begin in late 2009 and end now.....that football is on the T for a kickoff.....since the length of anything is twice the distance from the center to either end the center of the football formation.......(in ewave parlance called a running correction)....running corrections normally occur during the middle of a run......thus as i see it the center is near 12000 ......thus 6000 points from the beginning....add 6000 points to the center......and we get 18k.....in the late nineties that is how i called for a run to 5000 in the nasdaq......there was a running correction in the middle and of course that was around 2500

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