Carl,
"gettin close....one more good poke and then the corner?"
Excellent call!!! (much better than the last one! <g>)
My cycle indicators suggest to sell the high of the day on Friday, and look for a bounce from Monday's lows, then sell Tuesday's highs, then an important 73 day cycle low due on Wednesday. So early next week could be quite choppy, but i believe it will be at lower levels (1210 SPX - 1240 SPX).
The key item to note is that if the lower of next Monday or Wednesday's NYSE cash lows gives way, an inverted cycle sell signal will be given, and an all out COLLAPSE will follow.
Final Crash targets as updated after today's new highs:
OEX - 494
Dow - 7934 (cash)
Dow - 7917 (futures)
S&P - 1014.14 (cash)
S&P - 1015.70 (futures)
NDX - 1425 (cash)
Since the 2/1 highs which i believe completed the 5 wave move up from 10/8/98, it looks like we had 3 wave zig-zag A down into 2/10 lows, then a 3 wave zig-zag B into today's (2/24's) highs, and the sell-off today was the beginning of Mr. C. Obviously this count has this Wave 2 correction as a "Flat", which means wave C bares little resemblance to Wave A in time or size. Check the 1990 July-October correction...IDENTICAL, and it was a big Cycle Wave 2 correction as well, correcting the move from the 3/80 lows.
10/4 good buddy, come back..
David |
