Another alternative to the October low scenario is a waterfall low here between now and early next week. September 11 is a bad mojo day and a harmonic vibration off that date seven years after 2001 is a real possibility. If this does occur then October 10th will be even more important. If the low occurs in the next several days then a low retest or a high in early October could occur. It is very important to watch how the market reacts to October 10th.
On the other hand, if the market drifts down into October 10th then I would expect at least a significant bounce at that point.
Points and dates of interest -
- October 10th - End of correction cycle of long term Elliott Waves
- October 11th - 50% time cycle of 2005-2007 range
- October 15th - 25% of July 2007 to July 2008 range
- September 13th - 180 days from March low
- September 11th - 7 year anniversary of bad mojo day
- September 11th - End of time cycle relating to the May to July range
- SPX 1160 50% point of 2000-2002 bear market
- SPX 1171 50% point of 2002-2007 range
- SPX 1167 October 2005 low
- SPX 1157 200% price retrace of March 2007 to October 2007 range
Tags: Elliott Wave Analysis · Market Cycles · Roadmap2 Comments
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Sept 10th - LHC ‘Big Bang’ machine ready for launch
Yeah - if that doesn’t suck the banks into a black hole… nothing will…