Tuesday, December 14, 2010
The Dow entered the final wave 5 with a target of 11800 til early Jan.. Still we can expect a minor wave down towards expiration at current level it would count higher to a weekly 11. We are heading for an big top event as the sentiment readings reaching extreme levels combined with a total lunar eclipse exactly at winter solistice which has to major implications as it is in a T-square to the Pluto/Northnode conjunction on one hand and the Jupiter / Uranus conjunction which goes exact on 4th Jan. That is how a major top will be marked around NYE and 11800 level. We will reach that level as an final spike up followed by a 10-15 % correction right away but medium term it might bring even steeper sell offs but that we will consider going along the move once the top is set. Start entering shorts around 4th Jan but one might even buy some longs on dips this week or early next week for short term traders on the other hand trading a 200-300 point rise may not be the smartest thing to do if you are not a pro in this field.
Posted by getagrip at 6:27 PM