I hope not, but so far never been wrong before, I hope this one turns out wrong though. It's not to anyone's benefit . It should however take months and after several major rallies.
My models show ES bottom around 437. Lower needs to be seen. For EW'ers this is the termination of a wave 5 grand super cycle. Psychologically I'm still trying to assess the reality of where the market is headed. The model predictions may be too low but I've scaled back drastically. I assume this is what you're looking at? <a href="http://img229.imageshack.us/my.php?image=supercyclead2.jpg" target="_blank"><img src="http://img229.imageshack.us/img229/8025/supercyclead2.th.jpg" border="0" </a> http://img229.imageshack.us/img229/8025/supercyclead2.jpg
Hi ML_Quant, Could you give us a general idea where the number comes from and how likely we would get there? Thanks!
Here's a bit of a warm up... 6:36 am ET, ES 833 and it shall re visit yesterdays' low say 813! DD IS of concern, it should happen very soon but then who knows, the market has a habit of proving us all wrong
Please just consider this call as the need to be a bit more cautious in investments. If anything it should serve the purpose of taking formations more seriously rather than wishing it to go away. Timing could be as log as many months to a couple of 1 or 2 years(I'm not trying to avoid the question, it is the reality based on past experience), I have NO idea, but then from present levels, it's just 6 x 50 multiples away!!! scary but, in the past such has happened only after illogical rallies. Hence, going long can be based on well formed bottoms, say the recent low, to be violated and then rallying back above it with heavy volume and then falling to a higher low, rally and fall to a in between the latest 2 lows...would be a solid base if survives and then jumping ship as soon as a rally to a new high of the period fails....