sept phi mate turn date, page-2

Funkymonk, McHugh's next phimate turn is September, which should also be his high for the year.

His latest: This rally will continue till September in a 5-wave move--- 1,3,5 up, 2, 4 down.

Wave 1 completed Friday or will complete early next week with a small retrace to follow (wave 2). Wave 3 will be the longest and strongest.

DJIA target of 11500.

Then, 2 alternative scenarios of a massive wave down to finish the bear market by end of this year or 2010:

Scenario 1: A cataclysmic decline with DJIA between zero and 1000 (70 per cent chance)

Scenario 2: DJIA falling to 7500 (30 per cent chance)