PLEASE CLICK ON THE IMAGE TO ENLARGE IT
The participants to my private group, and vistiors to this blog have been looking at my charts for a while.
Over the weekend, I made a short video clip explaining my views and why I though the top had been reached.
If you'd like to see my forecast, please send an e-mail to Paperprofit1@mac.com. All requests are welcome.
2 comments:
nice video juan, and adds some clarity putting all of the concepts together. that being said if this is the top, as u said where do we go from here
Hi Pipercolt,
Please feel free to e-mail me at paperprofit1@mac.com, for more information about my group
As to "where do we go from here" question, I will go out on a limb and say that the markets can correct as much as 50% (although Fibonacci retracements can be 38.2, 50 and 61.8%) from the lows of March 2009. There are plenty of good technicians that have been saying for a while that the markets should break to new lows. I do NOT believe that, based on my longer-term analysis of the Elliott wave. I think that the correction that begun in 2000 is a textbook "FLAT" and was completed in March 2009. There is a lot of ambiguity since then, because the double zigzag is not specific enough. The FLAT is, and usually is followed by a strong counter trend. The bear market is over, in my mind, but we will have (and should have) strong corrections without new lows.... WE will see.
Forecasting is a dangerous business, so I can tell you were we are, were we have been and what to expect from now on. The pattern that begun in March 2009 is now complete, a counter trend will follow.
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