November 23 2007
Back in September when the index rallied 4 trading days and turned down without hitting the trend line I said it indicated the index was going into a fast trend down.
The objective was 72 for this leg and it still could reach that level. When the index showed the big gap down on the 7th of November it indicated an exhaustion of some sort and the key would be if the rally to consolidate that exhaustion gap could move past 4 days. If it could then there would be a much larger consolidation. If it couldn’t push past 4 days the trend would resume with the same speed or momentum that brought it down to this level. The rally went into the 5th day but that day was only marginally above the 4th day and was a reversal day. It is also turning down without reaching the trend line so the fast trend is still intact. The only indication for a low is the decline has reached 90 calendar days down and that is the normal time period for a fast leg down in the index.
Once this fast leg down is complete there will be a 30 to 45 calendar day rally followed by a resumption of the bear campaign.
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Bill McLaren geht also nur von 30-45 Kalendertagen aus. Ich sehe da gute Chancen, dass es 2 Jahre werden, siehe unten.
Future:
http://futuresource.quote.com/charts...M&b=CANDLE&st=