Down 12% for the week and there is alot of bearish sentiment on...

Down 12% for the week and there is alot of bearish sentiment on the CXO forum - typical crowd psychology for the current minor wave 2 correction that we're in.  I agree with posters who are calling the end of the tax loss selling season as the turning point for the chart.  The weekly log chart below is where I believe we are big picture wise - about to bounce off the lower channel trend line and enter a minor wave 3 which will form part of a large bullish major wave 3.  The second chart is a 30 minute chart which zooms into the blue box to try and pinpoint where the chart will turn over the next few days, where a wave C ending diagonal pattern appears to be forming.  Possible targets for the turning point are 90.5c and 85.5c depending on how severe the remainder of the tax loss selling season goes (and of course any downside momentum the short sellers can pile on top of that).