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

Thursday, October 06, 2011

Market Timing-Whats Next -Oct 6th CAN they hold on to gains

Oct 6th at 9:30
It appears that this UP LEG to 1145 should NOW make a B wave low either today or at open tomrrow

Those price levels could reach down to fibo levels between 1145 & 1075

the gain was 70 pts
use the fibo values
50% = 35pts  to 1110
62% = 44       to 1101  *** this would be an obvious target   
78% = 55        to 1090 

and IF the decline gets down to 1101, can they really rebound again on Friday back to 1145?
DOESN'T seem likely- extreme VOLATILITY

Whatever happens today & tomrrow is ONLY a setup for next weeks CRUNCH

more later

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