If this decline is the same as the other three 3% drops in the past 6 months, then it will take 5 or 6 days to find a bottom.
The last 2 times, the market fell hard for 2 days, and then rallied a couple days, and then fell. The first time, it rallied back the second day, and then fell 5 days.
bottom line: I think we will only fall 3% and then rally to new highs before the final top. 1613 is my target, more or less, for this drop. Also possible we fall to 1585 and have a 5% correction finally.
What goes up, must come down, and it never fails when the spx is over the trend line for 2 days, like we just had, for it to fall. What is wierd, is we had 3 high closing ticks days in 5 days, and today is all we got so far for a drop? My gut says eventually the signal will work, just taking its time.
