wednesday woes, page-2

Well that is probably the start of the correction.

US markets seem to be on last support trendline, but only the Dow can be construed as a positive pattern, while all other US indexes range from bearish to dismal.

In the short term, probably 27th is the next important time.

That will be 135 cal days from the US March low and if that can hold things there is a chance for 45 more days to 10th Sep for a final new high. It is also 30 days from the late June low.

A low there would also need to see a very strong move in the 31st July to generate upside space for August.

However once we go lower past 27th then the picture changes dramatically.

In that case I think 30 days from high is maybe a leg down and then a rally up into late August for the Bradley date and then look out below.

The Sp500 high is the same date as 1957 and the move up remarkably similar. That saw a 20% correction and a low on Oct 22nd.