Zanzibar,Using 1929 and 1974 model, we don't expect to have more...

Zanzibar,

Using 1929 and 1974 model, we don't expect to have more than 30% recovery from low before heading down or sideway.

I expect the rally will stop at around 4400 level. 4800 is a remote chance. I doubt it.

After 4400, it might re-test the low, but I doubt it could form a lower low.

So my view is XJO will be consolidating between 3700 and 4500 range for a while, similar to what happened fro early July to Late Sept, but with bigger range.