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

Saturday, May 07, 2011

Market Timing-Whats Next -May 7th WAVE E progress report

May 5th got us to 1329,  at 3:30 Pm right on a 30 bar pviot

May 6th got us to 1352 at 11: to noon as expected

Monday should attempt one more run to 1350, and might get as high as 1360 again at noon

From that level we should then get a wave low into Tuesday where 258 bars hits at 3pm, and could possibly extend to 4pm = 270bars, not out of the ordinary
That should see a close at or near 1329, if not a little lower.

WEd is expected to rally all day and probably close at 1350

From the Graph above, You can clearly see whats NEXT


IF THE WAVE ABOVE is REAL, we will see the outcome this Friday, May 13th. If anemic decline to only 1250 or above, then
we will have to review the wave above.

Daneric shows another view of his count which of course at this point
has equal merit.

Even this Tuesday should help identifying just how weak or not this E wave might be depending on how low this current leg gets to. 



john said...

Very interesting - especially the volatility. thank you

RickyBobby said...

I'd be happy with 1240--1250 target. Anything past that is extreme for this cycle decline.