+108, page-23

re: look for shorts between 10920-10950

Well price and time are elliptical by nature. The current market is as follows:



There could be errors with the above, I am still learning how to do it, but it should be right as the down move from March to April last year ran right down the middle section which is what should have happened.

This is also why the market is hanging around 10900 as that’s where the terminal point of the ellipse is.

This is also the reason why I did not get a bear market last year.....

My current problem is I am not sure where the growth spiral of the 1990's bull market ended. If it were August 1999... it would have projected a bottom in October 2002. If it was Jan 2000 it would have projected a bottom in March 2003.... either of them could be correct, as there are 2 spikes down in both months. Once again still learning how to do this.

Working with 2000 though it would project a turning point in May/June this year. This works will with the ellipse as seeing its been relatively flat, the next move is likely to be vertically down.

Using another technique, which is not superior, also suggested that June would see the bottom. The projected path and current market action is as follows:



I would be looking for about 8800 to 9000 by late Jun and probably around 9600 by years end.