just thinking about my long term low for the XJO. A 1.618 x 512 days period takes the US exactly to the Armstrong low. Doing the same for Oz market post the bear period 1.618 x 495 = 20/5/2011. Maybe May 20 has a bit of a October 10ness about it. It was at least a short term low this year and May 19th 2008 was the top of the bear market rally and THE top of the commodity stock boom.....
So if we do see a major low (not necessarily THE low) around October 8 or 11 this year that will be exactly 3 years since the US market top. May 20 next year will be exactly 3 years since the May 08 commodity stock top......
Does this mean commodity stocks may bottom on May 20th next year and hence why a 1.618 extension of the Ozzie bear lands exactly on this date ?? As opposed to the US landing on the Armstrong low date ?? We are after all a commodities based market.
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