POWER DATA ONE WEEK AHEAD - Provides an 80% Correlation to the SPX

Monday, September 06, 2010

MORE WAVE thoughts

The Columbia chart that was posted
DOES show potential for wave C to complete higher as you aptly mentioned.

But its not clear WHATS DIRECTLY AHEAD this week

Since the EARLY month action is a HIGH, then in order to make
another high on the 20th as shown by Columbia, we still need
to back off this week

NOW, its NOT written in stone anywhere, YET,
that we have NOT already seen the highs of this wave
and that the 20th is only a rebound within the next decline

I have mentioned THAT several times

It is ALSO possible that the NEG energy spewing out this month
will include a serious decline thru the 24th, and final low on OCT 4th

Thus leaving OCT in rebound phase -rather than crash mode.

I hope you understand what & why Im discussing various outcomes for SPT,
but direction for each leg has not varied, only possible AMPLITUDE

The dates are still OK
10th low
20th high
24th low
29th high
oct4th low

all the above are within the CONTEXT of a {C} wave, or what some
Elliotters would prefer to call a 5th wave.

but if you follow my wave count from April26th, IMO,
the wave may only need to set back to about a 50% level
from the 550 pts gained since Mar 09,2010.

1220- 275 = 945
or 62%
1220- 340 = 880

This might or might NOT be the time for such,
but it is a possible outcome for Spt Negative energy

NOTE that we have ALREADY hit the 38% level on JULY2nd at 1010

The other 2 levels remain open


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