March 2000 verses 2008

It was beginning to look erie how similar the 2000/2008 dates were falling into line, but that does NOT appear to be the case.

As of this moment in time its 12:45 on the 7th, and the spx is attemtpting to break out above 1385, but I dont think there will be enuf volume to carry it any higher

A quick look at the market from oct10th, 2007 shows pretty much where we could be in Elliott wave terms.
I know ive mentioned this b4, but its worth revisiting.
March 17th does look like the spx at 1263 intraday did make a low of wave 1
Therefore we can only surmise that we are in a wave 2 retracement which could make it as high as 1410 where there is major - major resistence, not that they have to do that, but its out there.

Still got April10-11 on my radar for a low this week which we could guess should fit the bill for a wave "b" low giving today as wave the 'a' high- this is all educated guesswork until it actually happens. this is an 8 day cluster of low & turn dates.

Take 1382 - 1263 = 120 pts, and again thats 38.2% of the 300 pt loss from Oct10 to March 17th.
120pts X 38.2% = 46 = 1336
120 x 50% = 60 = 1322
120 pts x 62%= 74 = 1308
these are valid FIBO relationships to the levels and we have seem them all b4 in the rebound from minuette wave 3 on jan 23rd to spx1395 of minor1.



The next 8 days cycle cluster is then on April23/24th, but the actual high might occur on the 22nd.
What I think we are seeing is the formation of a three month tripple top after the Jan 23rd
lows. OR the formation of an ABC rebound from March 17th. IF april22nd does offer the "c" wave high at 1400/1410, then the next move AFTERWARD should start wave 3 down to its major objective lows by May 28th.

Best for Now
Jay