Short Term Trading Member Forum

[SyndicateTwo]

Oh, you're absolutely correct about the DOW going down to that 11,700 area. That would complete a full wave count down. But if you look at McClellen's report tonight, his summation chart clearly shows the relation to the current situation to the other last 5 major bottoms that show clear unique signals in his trend summation indicator that you never get unless you're reaching these bottoms of magnitude. Each of these bottoms has led to major rallies that are sustained for long periods. When you add that with the fact we're in a 3rd Prez cycle, it all seems to add up that we're on the cusp of a major rally within the next 6 to 8 weeks at most.

But don't confuse my arguments with the fact that we're not done going down. Look for the S&P around 1335 to 1350 for that ultimate bottom.

Nasdaq shouldn't go lower than around 2300.