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Wednesday, September 23, 2009

Minute [iv] of Minor C

There is decent evidence still that the SPX and DOW are still trapped in a consolidation Minute [iv] wave. Some guesses if this is the case is an expanding triangle or a double three combination which I suggested the other day may happen.

In relation to "size" its starting to "look" right as compared to the rest of the Minor C structure up.

How bullish the Minute [v] will be is anyone's guess, but I lean toward P2 ending with a grand fireworks show befitting a rally of this historic nature. Therefore it could be a blowoff top that just snaps every short stop in place on the market. And then a tremendous "rush to the door" effect on the downdraft.

It seems its 10000 DOW or bust. Ending on 9,999.99 would be just perfect.

Or it could rollover.

But I like the fireworks idea. But first we need to confirm Minute [iv] is over.
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