Hi Fibo - found the board.
Targets for an ABC correction where A=C met nearly perfectly at the close today.
Dow wave A was 767pts. Target for Wave C = 8717.
S&P wave A was 75pts. Target for wave C = 889 (slightly exceeded).
Nas wave A was 98 pts. Target for wave C = 1332 (slightly exceeded).
The move appears to be finishing with an ending diagonal.
(Draw an upper trendline across Thur high and todays pm action.
Draw the lower trensline across the lows from Wed.)
There has been a slight throwover of this line at the close (this is not abnormal).
I am looking for a significant down day tomorrow.
A break of the lower trendline would target the base of the wedge, i.e. Wed lows.
The alternative is a normal retrace (e.g. 38.2%) which would put the Dow around 8270, S&P 852, nasdaq 1280.
The dollar did not quite reach my target of 107.7 (reached 104.4) and now looks toppy.
I am short all 3 indices and the dollar.
Called the C wave 1 day early (I gotta stop being early!).
Regards,
Ian
