Monday, October 27, 2008 11:07:14 PM
Dow Elliot Wave structure.
Looks like another 2000 points to the downside IMO as we are starting the fifth wave which is down and often the same size as the first wave. in the first wave down back in May-June the Dow lost 2000 points or so. therefore looks like the target IMO is about 6200 before the completion of this Elliot down cycle. the good news is we should then put in the definite bottom and allow a corrective move back up to retrace some of these losses. All IMO of course.
Looks like another 2000 points to the downside IMO as we are starting the fifth wave which is down and often the same size as the first wave. in the first wave down back in May-June the Dow lost 2000 points or so. therefore looks like the target IMO is about 6200 before the completion of this Elliot down cycle. the good news is we should then put in the definite bottom and allow a corrective move back up to retrace some of these losses. All IMO of course.
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