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

To: morokko65 who wrote (9630)	7/9/2008 7:10:18 PM
From: nspolar	Respond to of 33421

Over here within the halls of Mr. Pitera's market laboratory, we strive to be out in front. We try to keep up with our leader, within the realm of what we do best. Previous posts on the DOW talk to my mind. #msg-24638249 #msg-24638669 #msg-24716520 #msg-24696689 The i of c (or 3) down as I have labeled it was projected to be around 11000. We are getting close to that. A rebound should ensue with perhaps a vertical drop later this year. There will be a test coming up later this year, which will let us know who is correct, the bulls or the bears. If it is the bears my target is around 5000, late 2011 timeframe. I currently favor the bears. Good Luck Mate. TF

To: morokko65 who wrote (9630)	7/10/2008 1:29:39 PM
From: nspolar	Read Replies (3) \| Respond to of 33421

morroko, as a follow up I would like to retract the words 'I favor'. Wave theory should imo be used without subjective content, and should consider all the possibilities. With that in mind: 'The Test' that I think is on for later this year is shown on the following chart, in simple form. If the DOW holds 'the lines' I think the bulls regain control. img95.imageshack.us If the bulls regain control, then I see the following possibility, in progress. This chart shows a huge 3rd wave still in progress, with the 5th of that 3rd being an ED. That last top would have likely been the end of the i of the ED, with 2 more upwaves to yet go. If this is the case the ED would top of course above the last high, and could take on a pattern different than shown. But, interestingly enough the topping area w/r to time is about that point in time that I expect gold to vault straight up, into the 1000's. Between now and then I think it has to correct back some more, than regain the 1000 area, meander around a bit, then head straight up. img67.imageshack.us The last chart shows a bit why I stick with Qcharts. It does computerized fib projections, that are usually hit at major turns and inflections. The last top did not give a LT pattern that made me feel good. The following pattern does, as it is very symmetrical. img61.imageshack.us The sentiment and TA indicators are very deep here. Everyone is a bear it seems, Big Bad Bears. Moreover the sentiment and TA indicators rolled over very fast, something that usually imo favors the bulls in the longer term. Another thing to remember is that it appears the financial swoon is getting longer in the tooth. If they bottom late this year they are going straight up and will add significant support to the indices. I also like the NDX. Something in my opinion is going on there. If it does not cave, it will probably hold, then take off and go straight up. Short but regardless of path taken, I think there is a tradeable bottom later this year, and hard rally in early '09 and beyond. It is where the bottom lands this year and how far the rally goes next year that tells The Whole Story. TF