chris fords - guru meditation number thursday, page-56

Stu, just relaying what The Computer says. The PTI of 63 suggests that confidence is high we're in a W5 down but The Computer is often wrong, and like you, I hope it is this time.

But if this IS a genuine 5 wave structure, the fact that W2 was so shallow suggests a very weak market, although I would have thought W3 would have gone much lower. W3 closed below the trendline which is ominous and WB terminated on it which to me suggests it's still a valid trendline. Will we punch through it this time??? I think the odds are we will.

You can see the W5 targets on this chart. Frightening, I agree but don't forget we are only a commodity country and are very dependent on the rest of the world for our living. Too much emphasis on sports and entertainment and welfare safety nets and not enough on science, IP, etc. IMO.