OK, so I'm a broken record now, looking for 1440 next week.
A lot of E-W people count the 2008 crash in 5 waves, but I've always seen it as A-B-C (see the 5Y chart). As the target of B up of A down, 1440 is a magnet for this entire B wave.
C down can go sub-200 SPX if it's a 1.618 fib extension of this rally. But first we need to find our top.
If we are at 960 by the December FOMC, with the election behind us and the fiscal cliff ahead, the Fed will do something. It will last us until February, when we hit the debt ceiling.
Everyone is secretly bearish, but no one proposes what a collapse may actually look like. So I will.
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| S-T count and proposed fast drop |
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| ... builds into a serious event in October |
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| 3PDH suggests we bounce around 1310, up to the 1330s |
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| Cannae, seen from the air |
3 comments:
http://www.historyextra.com/blog/cannae-%E2%80%93-bloodiest-battle-history
Chilling reference.
And here I was thinking the first day of the Battle of the Somme (which for the British numbered almost half the US casualties in the entire Vietnam war) was tops in this category.
I wonder if the following numbering is 'valid' or not/worth a thought or not: 2011.02 as "3" of the pattern: 05 as "5" ... 2012.08 as "17'.
A pattern around the pattern would be a nice addition to follow for this great blog.
Oooops, sorry. I mean the 'three peaks and so on' numbering.
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