Monday, November 2, 2009
You may see right away that there is a big difference to all corrections before - this is a impulse wave down and the big wave 5 up is coming to an end. The minimum correction target of 1650 has been reached and in a minor wave count we are close to wave A downs end. We should see a minor wave up before another selling attempt should push the markets even lower. Interestingly as the market drops the Rydex rises further. Tomoroow another test of the 1650 might serve as the short term bottom and a move up to 1700 area shall follow. In a monthly count we are already in month 9 up and by yearend the special Astro bonus will vanish for Tech stocks as well with Jupiter moving into Neptun but before we will see a final rally towards yearend but rather make not new highs.
Posted by getagrip at 2:39 PM