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Wednesday, May 6, 2009

So Close!

With help from Pedram I believe I have a chart that is labeled correctly.

I should probably interject that Rich has no rally to 943 in his chart. But hey this is my blog and even though I highly respect Rich I have to say what I see. Bottom line, we all see the bears coming.

I believe the last push will complete a full 5 waves. I know I've said that before. But I'm hoping the drop is severe, pushing through the bottoms of the Kumos.

Basically a drop below 880 should do it for even the most sceptical. Here is an extreme close up of the last few minutes of the market. I'm talking about mico waves at this level. But Elliott has to be fully satisfied before the count is done.

Pedram , thank you for your help today! Good luck with your shorts.

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