I took some time to have another look at 2004 pattern. It seems that current pattern is two months ahead of schedule. It looks like we are in March 2004 already.
If it is true, then everything would be in place. We can anticipate 2004 May low will arrive in March, and than an Rally into May. Than we may have August lower Low, and from there, rally into Nov, a higher low, and rally into EOY.
Either way, we are in the range trading period, with downside bias. It could last for a year or two. A lot of things need to catch up, including people in want out, and people out want in. A perfect market for trading.
If history repeat itself, the support is at Sept 09 High, or Nov 09 Low.
I am not prepared for a crash, or round top. Buy low and sell high is still my strategy.
tuesday trading, page-57
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