The Primary Wave V1]5) count is invalid now. There are two counts left: Count 1. Intermediate Wave V1]4) is going to end near the end of Minor Wave V1]3)4 which is in accord with the big "M" pattern target at 12076, 1378, 2350. Count 2. Dow Theory confirmation by a close below August 16, 2007 close on November 21, 2007. Are we entering the Bear Market of Primary Wave IVc] which may end below 7591, 815, 1172.:eek:
I'm still on that ED C option of a the larger Y* wave untill it proves me wrong ) SPX INDU * or C of a larger Triangle pattern
EUR/USD=1.4917, to be 1.5 soon, because another .25 or .50 rate cut is expected. .25+.25 = .50 so 1.5. Santa Claus's "Crude oil at $108 in early 2008" is comin' to town.:eek:
"Just buy more US goods, it's that simply", I reply to the Governor. Report: China wants strong dollar Governor of the People's Bank of China told Treasury Secretary Henry Paulson that China hopes to see the greenback rebound. http://money.cnn.com/2007/11/22/news/international/bc.apfn.as.fin.china.dollar.ap/index.htm
Long term investors, short term investors, speculators, day traders, scalpers. It depends on how much they can tolerate. Microwave correction = 40, 4, 8 points in the Dow, S&P and NASDAQ respectively. Subminuette wave correction = 100, 10, 20. Minuette wave correction = 200, 20, 40. Minute wave correction = 400, 40, 80 points. Minor wave correction = 1000, 100, 200 points. Intermediate wave correction = 2000, 200, 400 points. Primary wave correction = 7000, 700, 1400 points.:eek: At this moment we have 1400, 150, 300 points correction. It is a Minor Wave correction turning into an intermediate Wave correction. Long term investors become nervous, other Bulls have got out or forced out of the Market.