here are some random yet interesting observations that may or may not mean anything. I make these observations being mindful of Laundries thoughts...that is that the bull will continue until august 2010 and that we shall have a meaningful correction shortly and that this correction may well be more severe than the june/july correction as we are further into the bull....
On that basis I noted that the may 2006 correction was particularly nasty in the context of of other corrections in the 2002-2007 bull as the bull was well advanced by 2006
I note that the XJO has now found overhead resistance at the 2006 correction LOW.
I note that if the coming correction were to equal that of 2006 correction in magnitude then it would be equal to a 38.2% retrace of the run from march 2009 to recent highs....it would also remain above the June highs so as to protect the integrity of the new bull market (for want of a better name.)
I note that the correction preceding the 2006 correction was equal in magnitude to our more recent june correction. It peaked on 30/9/2005 whilst our recent high was on 29/9/2009....only eclipsing the 30/9/2009 by 0.1 point....I put that little fact in for volt and his anniversay dates
The inference here of course is that if we are seeing some sort of long term repeating pattern in price and time then we may be about to experience a correction somewhere in the magnitude of 2006 before the resumption of the bull (assuming Laundry is correct....and he has been pretty dang good thus far)
of course it will never work out that way but I thought it an interesting academic point. :)![]()
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