Mohacsy's Safe Portfolio Member Forum

[elena_murooni]

Actually, the flavor of what I have been reading for the past month is basically that a blow-off high will happen soon (it has started).

Level targets were S&P support at 920, resistance at 1100. Dow support at 8350-8500 and resistance at 9000-9200.

This is Primary wave 2 up. (Primary wave 1 down took 17 months... Oct 07 to Mar 09). The retracement in Pimary wave 2 up (... it has already satisfied the minimum 'time' length of 3 months, but the way I read it, the uptrend should last no more that 3-6 months) should take levels to those quoted above. Then, Primary wave 3 down starts. It will be a killer...... Richard will certainly have his volatility.

Rarely do they change the wave count in 'primary' waves. It is all other waves within that can get changed (that's always a bummer). So, this Primary wavew gets my attention.

I will read more... and as you know, these are technicians & cycle folks who have (thankfully) divested themselves from hype. Well worth following IMHO... helps me sleep at night.

And as for chickens, I can cluck with the best of them! LOL!