The bounce is clear on this chart...What has me frankly puzzled is that I expect a wave 5 down after this bounce is over, and all of the lower trendlines are sloping up. So either we bust these trend lines like we did the older ones, or we don't make a lower low on the next decline, which I have a hard time believing...
You can see in the top image the bounce has caught up to one of the blue trendlines and stalled a bit, but I expect it to go higher...
2 comments:
What does that .5 node work out to? January/February/March?
thanks
Hi d,
it works out to 5/24/09...that's the node associated with the 1.272 basis (what the equations are seeded with) the 1.382 and averaged seed for the $NDX give 3/9/2010 and 9/16/2009, respectively. Those are indeed dates to watch as .5 nodes often (not always) have trend changes at or close to them...
Regards,
Mark L.
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