wednesday trading, page-59

Evening Paul et al.

Here's my best guess atm:

A low next Tuesday, 18 August, at around 975, and then 15 days of rally (11 trading days) to exhaust the trend up since the March low on about 2 September at about 1054.

My reasoning:

- Price for a low next Tuesday around 975 as that is a 1/4 retracement of the move up since 8 July, and that would hold the move up since 8 July in a strong position for further rally. We'd want that if a full exhaustion of the rally was on.

- 2 September as the date to end the move up since the March low as that date is is 180 days from the 6 March low.

- 1054 as the price to end the rally as it is half the range from the May 08 high to the March 09 low and the next significant resistance up.

- 15 trading days of rally because (quoting McLaren, again..actually I really owe a huge debt of gratitude to the man) "trends exhaust with a portion of themselves", and 15 days is 1/12th of 180 days.

McLaren's probably alreadt said all this, has he??

Cheers