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

Sunday, June 12, 2011

Market Timing-Whats Next -June 12th - Wkend update -WHAT IF

WHAT IF the COUNT above from Michael Eckert of Columbia1 has it right?
What could that mean for MONDAY- JUNE 13th?

I'll try to answer that question ahead of tomorrow's POTENTIAL CRASH WEEK

June 13th has some similarities to the May6th FLASH CRASH DAY, but obviously we
will NEVER have another day like that again, or at least not in the foreseeable future

However, lets do some MATH to see just what is possible, IF not just probable.

WAVE 1 above was from 1370 to 1312 = 59pts

We had previously discussed 58 x 1.618 = 95pts from top of wave 2 @ 1345 would get to 1250
however, AS we look at the wave structure, we know that we just entered the HEART of this cycle
in WAVE iii of [iii] of 3 and that could get very serious.
1250 is only 21 pts away from Friday's close and is a fairly easy target.
58 x 2.618 is another possible take = 152 pts , thus dropping the spx to 1193,
which could take 3 days to complete by the 15th or open on the 16th

As previously mentioned, Monday will show the Markets TRUE COLORS.

more later

No comments: