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Strategies & Market Trends : Longer-Term Market Trends -- Ignore unavailable to you. Want to Upgrade?

To: skinowski who wrote (250)	4/10/2008 6:44:18 PM
From: AllansAlias	Read Replies (3) \| Respond to of 3209

How did we get here? We first postulated that we should go into buy the dip mode back on March 24. Alas, this breakout has turned into jello, so we backed out of that bullish stance on March 28. Since then, we are 80% in cash and watching the market jello around. We've been talking about getting to the SPX 1410 level. I expect it to happen next week. The big question facing us here is... what then? OK, first, let's look at the bear case in Elliott terms. Here are the two bearish possibilities imo. Each sees the March low as having a different meaning. One sees us going sideways/up into at least late May, then down. The other is too extreme for me, it sees us in a rising wedge c-wave that would end next week, then pretty crushing down through the summer.