8 day cycles

Oct 9th high - closing values
oct19 low
oct31 high
Nov 12 may hold next low and challenge of 12,850
Some of my associates prefer oct15th, and that could b possible, but more likely Tomrrow or the open of the 13th.
Then what??
Friday Nov 16 holds out he best bet for a strong ONE DAY rally
However, the NEXT 8 day cycle indicates a turning point high on NOV 23rd, leaving out the 22nd which is T day.

From an Elliott view, it would appear we are FINALLY making a real correction in which the lows will more than test Aug 16th at 12,500. Theyve already take out 1000 points in just 30 calendar days. BUT whats more remarkeable is HOW BULLISH sentiment is. After 5 yrs, theyve conditioned all of us to think bullish.

Go back to Oct/2002/march 2003, and dow around 7500
IF STILL in a bull market TREND thru 2010 which is still my guess for now until proven otherwise, we should see a market correction of at least 38.2% =about 2700 pts

When will that happen? IMO, Could take as long as next NOV before hitting such a low- others are claiming a PEI relationship to previous important dates ending on March 22 of 2008.

The MOST important NEAR TERM date IMO is DEC 11th.
In 1994, Jupiter and Pluto conjucntion ACTUALLY started the whole rally from about 4500 level to the first big target at 11,725 in yr 2000. THAT conjunction ocurrs again this yr on DEC 11th.
An important inflection point, and maybe a short term bottom with DEC 22nd as a retest.

Best Wishes
Jay