Friday, June 10, 2011
Market Timing-Whats Next -June 10th - Closing Report
This decline started May 2nd, 2011
It is happening in 5 waves-- whats that MEAN?
IMV- IT means the market TOPPED MAY 2nd at 1370 right at the 78.6% retrace
without any large correction in between - biggest was last summer - spx -210pts
IT also means that a 5 wave correction will be labeled as wave 
so what, you say. When the FIRST wave down occurs in 5 waves, you can expect
that will be just the start of a long term correction and wave  on Aug 6th should not
exceed 1370. From there, it will probably be another 2 years to 2013 before we reach
the end of a long and tedious downtrend very similar to 2002 - 2003.
AS for now we can expect the mkt to now head to a low at 1254 on or b4 June 14 to 16
Once wave 3 is completed at that level, we still should get wave 4 on June 20
and wave 5 on June 24.
Given for now a low of 1254, took away 95 pts from 1345
the 4th wve rebound should =
38% x 95 = 36 pts + 1254= 1290, where it is right now at the high of wave iv.[iii].3
You can Do the math for 50% & 62 %
From 1290-1295, wave v should duplicate wave 1 of 58pts- was 1370 -1312
which gives us 1295- 58 = 1237 scheduled for June 24th
which I mentioned b4 using another math method