Small changes each day, we're moving sideways in what looks like a B-wave triangle. She's wired to blow, presumably mid-session Wednesday with the FOMC.
If we make 1500, I'm sticking with the 2007-2009 chart I posted earlier today, until the tape tells us otherwise.
Actually, repeating that cycle would be the most satisfying outcome for all of this. The mainstream analysts would start to notice the correlation by late May, and mention it with trepidation. One by one, the financial teevee crowd will go before the cameras, talking of bottoms and generational buys, while they unload their actual positions like there is no tomorrow (because there isn't).
I'll do some more work on the 2007-2009 redux later this week. For now, the first target ("a" down) would be the .382 fib back to 666 at 1181 in mid-June. At least, that's what this fringe doomer blogger thinks.
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| SPX 12-10 |
1 comment:
I think you got it.
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