Elliott Wave and Index Trends with POKERSAM Message Board

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Strategies & Market Trends : Elliott Wave and Index Trends with POKERSAM

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Ms. Baby Boomer

To: Kirk © who wrote (1418)	5/17/2023 9:50:38 PM
From: POKERSAM	1 Recommendation Read Replies (1) of 1764

Yes, 4100 to 4200 has proved to be important resistance in the downward march toward my target. A very popular area indeed. I thought at one time 4000 would be the limit high for 2023. Obviously, I was wrong and missed it by near 200 points. The market action since the low has not really been that odd. With the end of this consolidation of the initial decline from 4818 we should head lower in pretty rapid fashion. History has shown us that the depth of a bear market does not occur till well after the Fed pivots so you can see we have a long way to go. The welch line was actually 4114. That was the correction bottom called by da cheif at the time of the bet. He called the bottom at 4222 previously and has called three more bottoms since 4114. He called one at 3810, another at 3636, and finally one at 3491. His chartist has concurred with each call. All but the last one has proved to be incorrect. That will come. Not everyone agrees that the bear is over, me included. But that is what makes a market.

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