THIS IS ANOTHER WAVE structure that looks like it has some merit
BOTH PATTERNS INDICATE a level below spx 1250
using fibo math we could project as such
94 pts lost 1344 to 1250
94X 1.618 = 152 pts at a minimum = 1344- 152 - 1192
The meat of this correction should still take place on either of 2 date segements
1. May 12 & 13
or
2. May 23 to 27th
Since this pattern is a 3-3 -5
5 being where we are NOW, we would expect wave iii of 5 to be the biggest spike down
which should place it on May 12/13.
Jay
1 comment:
Despite the money, despite the QE, despite the all bullish - all the time analysts.. this market feels heavy. Very heavy. Many times it's wanted to seek a lower level and it's been short circuited by Wall Street and Bernanke. Forced to move back up. Although not a single one of us has ever seen this level of manipulation and money creation.. common sense tells me that even the best ponzi schemes come to an end. This one will too.
When??? is the only question. I cannot answer that. Normal rules no longer apply. If I had to take a guess, I'd say we are getting very close to a pretty hefty market pull down.
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