The date of October 11th (or near that date) has come up on many charts for the past year. I will try to highlight a few of those this week. I cannot tell where price will be by next Friday, but I believe a significant cycle will complete at that time.
The one year anniversary of the high hits on Friday the 11th. Also, the 90 day cycle from the March low is on Monday the 13th.
The long term roadmap of the the SP500 Index (SPX) points to October 11th as the end of the second Elliott Wave octet from the 2002 low. This date is 218 days from the March low which was 218 days from the end of the 877 days cycle that dominated the first two segments of the bull move. I say first two segments of the move because I thought there would be a third segment after this correction. At this point another 5 waves up looks to be in doubt. But an A-B-C correction from here will most likely provide for a very good upside trade.
The last October 11th cycle I will show is 50% of the time required for the 2005-2007 move. Price has significantly moved beyond the 2005 low. But the time cycle is not affected by price movements.
Recap of last weeks posts:
- Value Line Arithmetic (VLE) at Critical Point
- SP500 Index Roadmap
- Energy At Natural Support
- Charts Finally Show Upcoming Recession
- CHK Gives Back Entire Breakout Move
- Smallcaps Holding Up Better Than Gold and Silver
- Market Waiting for Judgement Day
- Lower Volume Move to Middle of Weekly Bar
- Logical Crash End Points
- VLE Testing July Low
- Two Stocks in Strong Position - Update
- Regional Banks Looking Good
- SPX Crash Scenario
- Jim Cramer and DOW 8378
Tags: A-B-C Correction · Elliott Wave Analysis · Roadmap · Standard and Poor's 500 (S&P500)5 Comments
5 responses so far ↓
http://my.wallst.net/referral/Suggie/Blogs/2008/10/01/astro-cycles-and-1000-point-dow-swings/
Astro-Cycles and 1,000 Point Dow Swings?
Oct 01, 2008 15:47:03
During my Sweet Picks interview today with Larry Pesavento, President of TradingTutor.com, Larry says there’s a high probability of 1,000 point intraday swings in the Dow Jones next week. Larry has been trading stocks, futures and currencies for over 40 years and has written several books on technical analysis and Astro-Cycles.
Larry mentioned that the astro-cycles that took place during the Panic of 1837 and those astro-cycles expected next week- are the same! Larry has been very bearish on the equity markets the last several months and correctly warned of the credit crisis and banking failures. He suggests that traders and investors study the cause and effect of the Panic of 1837. Here’s a Wikipedia link: http://en.wikipedia.org/wiki/Panic_of_1837
I think people would be better served by reading about the Panic of 1907. This is pretty much exactly what we have now. http://en.wikipedia.org/wiki/Panic_of_1907
andy, the dates on your chart of oct.11 are from 2007, now oct 10th, is 365 days from Oct.11th 2007, I am a little confused on your 11th day turn date???? I have a possible turn date of Oct.8th. But, I do believe caution is at hand for the entire week, there is a great possibility of the 3rd of the 3rd wave starting this week, doom and gloom, support at 1070-1060, if we go thru that, well, the old saying, Lord Help Us……thanks Andy.
Libby - October 11th is my guess. This is a Saturday so the real turn could be on Friday or Monday. But I guess I put less expectations into these dates as others do. I expect the turn “near” the 10-13th. If the market turns within a week of those dates then it is working as I expected. Even two weeks would not bother me although that is stretching it.
Thanks Andy, I understand your thoughts, just was confused on the dates that you had posted on the graph. I think I get it now. Thanks again.