H guys....taking a few days to relax by the sea...as for barnsty's question...wow...we have talked about a lot things in depth on XJO in the last months and my bold statements of late is an attempt to piece them all together to create a complete picture.....no way could i possibly cover all that ground again in one post...but perhaps a few highlights
1. It was Terry Laundry, and apparently McHugh also who first stated a downturn would occur on the 29th...Volt picked up on it first and I followed doing some cycle work to predict where to after the 29th....i don't speak for Volt he tend to keep a more open mind and I am a bit bolder in my predictions.
2. i discussed Kwaves a fair bit. we are in only the second Kwave winter since the DOW listed....the other started in 1929. total collapse is a feature followed by depression.
3. Mchugh months back was talking about a catastrophic leg down.....as if all the other legs haven't been catastrophic ??
4. I have discussed how since the high of 1987 most major support/resistance all the way up and all the way back down has been a function of multiples of the 87 high....our last support was 4x the 87 high and this one is 3x......Is the next 2x (5445)???....that would also be a 61.8% fall of the dow (coincidence ?? you be the judge)The simple old measurement rule would suggest 5445 could be reached and soon.
5. Other may differ in their views but is my opinion that the leg down is upon us and will complete by the 21st Jan....then the Obama factor will kick in and we will rally....I have stated that 55days is historically agood bear market rally number and that fits in with march 17 which looks to me to have some importance.
6. I have done some reading and posting on how the length of bear market often is related to the length of the bull that precedes it. i see around June 12 as potentially being important and that also fits in with how long the bear should (could...maybe) be
7. I have noted that both in bulls and bears the last move is often the most powerful.
well that is just a skim of my thought...there is some conjucture on my part and it is really all just something to think about.
(20min delay)