2. We are about to finish this leg if not even the whole trend as the extended version of this leg rather points to an extended correction of 25% over the course of 3-4 months - that is what many indicators hint to plus we have extreme sentiment situation on the bullish side.
|February 15 2011 mclarenreport.net.au|
|By Bill McLaren | Published Yesterday | February 2011 | Unrated|
February 11 2011 mclarenreport.net.au
S&P 500 INDEX
Just an update—we still expect this confirmed “blowoff” trend will capitulate into a top between Feb 27 and March 6. That will end this leg and be followed by a sharp correction that will likely not exceed 13 trading days. But there will still need to be a distribution pattern before changing the trend and will either be a test of the high, a three thrust pattern or a broadening pattern.
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