Wednesday, October 28, 2009

Here you go...

Ok, I really expected this 5th wave of iii to much shorter than it actually was. It looks extended. No idea what the GDP or Unemployment numbers tomorrow are, but it should spike the market up if the count is right.
The large green circle is where I expect the bounce to retrace back to, then we will have a wave V.The chart above is what I see happening longer term after this first wave is finished we will have a wave 2 up that will trace out the right shoulder of a large head and shoulders pattern.

Ok the BPSPX:CPC closed sharply lower. The MA's will start accelerating down in the next few weeks.