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K, am I right in thinking you have an outstanding MS short trigger that hasn’t hit target?
1783 target?
High so far 1794.57, I guess that qualifies as my 1795 target hit. That being so, now it can go down some before the final rally above 1800
Not really “alternative” Gordon, he’s saying his target is 1830/40. My eventual target is similar as posted previously. However, immediate short term target is 1795 ish then a pull back before the ramp up to the 1830 ish target.
Looks close to turning.
Yes it’s close. 1795 as posted is the target. 1791.53 is the high so far.
That chart pattern may be ok as a butterfly but the labelling isn’t correct. The C wave cannot
be the shortest wave (Elliot rules) which it is with the labelling in that pattern.
You leave my Papillon alone. 🙂
Don’t know the rules on papillons, can’t help there. 1795 close now, top so far 1791.53
Gordon,
The highs are interim highs, they do not negate the bear market. Where it ends is what matters and it should be a lot lower than the 2000 high.
Thanks for the Larry link.
Gordon,
We are still in the bear market which started in March 2000 and probably won’t end until late 2015 or 2016, which history shows is within the normal length window for a bear market. The decline may not start in earnest until early 2014 and should last at least 18 months, maybe two years. Then the next bull market starts. As for the coming decline, impossible to say how deep it might go but if it’s only 10% the Fed should be ecstatic. I would expect at least double that.
