thurs night tick tick tick, page-17

Just looking at our market from pattern only, I'd have to conclude the target was about 7,000.

We are overstretched but often the market will try to get as much above the old highs as it can so relieving the overbought status just brings the market back to the old tops or a bit below and then it can run again.

I do note that often MACD will make an intial move the same size the other side of ZERO.

Although it looks high it does not yet much the downside number we saw yet.

I said before that if Octobers does no severe damage then a top is usually seen about Jan.

1929 had a secondary top 7 months later and '37 5 months later, so Dec to Feb seems possible.

I think that is the worst scenario as it would probably herald a much longer and larger decline than any sharp Octber plunge or slower into March.