black monday a fizzer, page-10

May be prudent to hang back diving into this market just yet IMO

Robert McHugh, Ph.D:

"The stock market crashed Monday, September 29th, 2008, precisely on our scheduled phi mate turn date. The S&P 500 experienced the largest one day decline since 1987, and the Dow Industrials had the worst one-day point plunge in the history of the United States of America, worse than 9/11, worse than 1987, worse than 1929. The Industrials crashed 7 percent Monday, the S&P 8.6 percent, the NASDAQ Composite diving 9.1 percent Monday.

$1.2 trillion was wiped out from the stock market Monday. The Dow Industrials lost 777.68 points, closing at 10,365.45, a new closing low for 2008. The previous worst one-day plunge in the DJIA was 684.81 points at 9/11/2001.

"Our Fibonacci phi mate analysis is suggesting another turn is due around September 29th, 2008 +/-: This is the ninth phi mate date we have scheduled for 2008. Looks like it will be a major top. Our thought at this point is the 29th could be a kickoff to a devastating stock market crash that lasts a few weeks into mid-October. It is also a New Moon on the 29th, and New Moons have been associated with crashes in autumns in the past."