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According to T Theory - next downside projection should hit center post low of second bull market T which is around 880 on the S+P into November... Click here for the MP3 commentary:
Toggle Commented Oct 20, 2009 on Prechter Says The Top Is Close at Planet Yelnick
Terry has had the hottest hand lately in the blogosphere... Oct 8 note: I am changing my outlook back to the original forecast of an important peak and selling point on Oct 12 13 14 as below. The performance on Thursday was negative in my view as we are losing momentum and the volume oscillator is probably topping at the zero line. Details on next Sunday's regular Update. Oct 5 after close note: The mid Oct peak(D) is being estimated as Oct 12, 13, or 14th. It is positive that the Arms selling climax and Wrong Ts bottom date has halted the slide to the 55 Day MA. Should be headed up from here.
Latest from Terry Update for Wednesday evening Oct 14; Todays strong gain meets nearly all the peak requirements for the ABCD T construction on a closing basis. The date is within range and the market is at token new highs above the Mystery T's mid September peak. The closing S&P is just shy of the upper envelop target level of 1106 but that might be reached tomorrow. The very short term T on Sunday can have its center date more later by one day so it is possible we have seen the momentum peak today and the upside strength will rapidly dissipate.
Odds are very high this isnt another 1987. Stock Market isnt currently in the Mars-Uranus crash cycle. (Every crash and volatile bear market since 1920 has occurred in the "latter half" of the Mars Uranus cycle.) If you look at the chart above, we are due for a very short and sharp decisive pullback here then a further run to new highs into 2010 is highly likely.