Very bullish EW view

    Long term picture view

    Posted by doctormike on 12th of Jan 2010 at 12:09 am

    Check out this EW projection. It makes a point that the march low was the bottom of wave C in a ABC retracement since 2000. Now we are in only wave 1 of wave 5 up to break new high. There is no retesting low and definitely no breaking low. I wonder what breakpoint's view is now after this most powerful rally in equity market history.

    http://2.bp.blogspot.com/_9Sqz0bUVklI/S0eo6SwjfGI/AAAAAAAAAmw/5ysa95Gp-A0/s1600-h/PUG+SP-500+Daily+Bull+Model+1-8-10.JPG

     

    If this is the case...

    Posted by mamaduck on 12th of Jan 2010 at 12:24 am

    Given the fundamentals of world economy, and specially the US economy, the only way this would happen is a rise in nominal terms through massive money printing (much larger than we have seen so far) by all central banks, which will be super bullish for gold and commodities...

    We will see what Steve

    Posted by doctormike on 12th of Jan 2010 at 12:35 am

    We will see what Steve and Matt's view is. Their previous view is quite bearish. I am wondering if this rally has changed their long term view.

    matt said just yesterday that

    Posted by Michael on 12th of Jan 2010 at 07:25 am

    matt said just yesterday that they do not think we're in a bull market. 

    Sure, if that's the case,

    Posted by doctormike on 12th of Jan 2010 at 08:49 am

    Sure, if that's the case, I just like to be confirmed again that wave C is still coming and it should break the low of March. The "big picture" picture was talked about for several months, but as the market moves higher and more bears turn bulls, that "big picture" view hasn't been mentioned much anymore. Anyway, as an investor, it will be good to know.

Newsletter

Subscribe to our email list for regular free market updates
as well as a chance to get coupons!