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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: nspolar who wrote (9247)	4/5/2008 6:41:47 PM
From: nspolar	Read Replies (1) \| Respond to of 33421

So if the NDX has not bottomed, and per previous posts the financials have not bottomed, yet in the LT sense there may be a big move up, what is going on? All the EW heavies that we know and follow have postulated the general indices are in a LT cyclical bear move down, that will last some years into the future. Is there another possibility? We think so and we are postulating this. img218.imageshack.us img218.imageshack.us What is shown is the DOW, in an IT correction, a 2 of 5 of 3. This then would have the DOW still in the midst of a powerful move that is not yet complete, and one that will likely push the 20,000 area by late 2011. The 3 must have one extended wave or it is not a 3. We do not think it has had one extended wave, and that the current wave could be it. The extended wave is usually the largest and most powerful. Hence if true, this correction is one of the largest bear traps of all time. What then could be dead ahead? As shown we think the whole vth of this 1 of 5 of 3 must be given back. We see a possible bottom in the 10678 or 9851 area. This satisfies the need to give the vth wave back, and it would also be our preference that the whole 1 as we have shown retrace by 61 % to the 9851 level. If this LT move is to continue, this retracement must be deep, and suck in every bear around (imo). We also are very curious about what is in store for next week. A significant move down could begin. We think in the shorter term we are at or near a B top of an A leg down still in progress. The trendline there is the key. And much more to go before this correction ends, hopefully. The FED could be correct in that all the impetus they have given, has not yet taken hold. Interestingly enough, it might behoove the dollar bears to watch the dollar here. If The FED is correct, and our postulation has any merit, the dollar should look ahead and not fall off the cliff. TF