anyone see a massive correction coming, page-9

Can we really call the XJO action of the last 2 and bit years a bull market ?? Looking at the bigger picture we had a huge fall, followed by about 5 months of bounce because things got over done followed by nearly 2 years of sideways action. The XJO looks very much like the DJIA did in the early 1930s before the market took off up into 1937. I will not cover all my arguments again about May 20 being important to the XJO but I can see a case that one more time we visit the bottom of the sideways channel as we did this time last year. A low on May 20 would be fibonacci time perfection. After that we have the Armstrong low in June and no doubt there will be strong demand for resourced as Japan is rebuilt post earthquake.

Much has been made of QE II ending in June but I am guessing a dive to the bottom of the channel will price that in and from that point up will be only way to go.....I hope.