Funkymonk, McHugh's next phimate turn is September, which should also be his high for the year.
His latest: This rally will continue till September in a 5-wave move--- 1,3,5 up, 2, 4 down.
Wave 1 completed Friday or will complete early next week with a small retrace to follow (wave 2). Wave 3 will be the longest and strongest.
DJIA target of 11500.
Then, 2 alternative scenarios of a massive wave down to finish the bear market by end of this year or 2010:
Scenario 1: A cataclysmic decline with DJIA between zero and 1000 (70 per cent chance)
Scenario 2: DJIA falling to 7500 (30 per cent chance)
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Last
8,757.2 |
Change
118.200(1.37%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,639.0 | 8,776.4 | 8,639.0 |
| XJO (ASX) Chart |