The model I use is far from perfect, and indeed from mid April to Mid June last year it was out of tune, however, early in January this year, in contrast with the "pundits" the same model had in it the decline we just suffered (including the target of around 1880 for the bottom), though it did not have a "double bottom, it had the main bottom late March and a retest without breach late April (we got both, but the April decline after a mild failed bounce, continued into the mid May retest of the March bottom). I am simply using the same tools and accept the fact that from time to time, politics, intrinsic failings of the model or other intervening events cause the model to fail. I am really following the tract set up in general term in April of 2000, and so far, more often than not, it has worked quite well.
