Wonderboy, I agree with most of your Analysis. But in the Short Term (like next week) I think we go Up. If a good portion of that "Liquidity Injection" finds its way into the Market then we could have a good Short Covering Rally matching Pokersam's WAVE c - UP prediction and March's similarity. I think that once the Shorts have covered and the Bulls have bought then that will be teh "Fuel" to allow the Market to drop - like a rock.
wonderbuy = There is no doubt in my mind we are headed for recession. In my ewave count it could have happened a year ago. The economy however, called for an extension up. which we got. This time IS different from other corrections of the last 5 years due to the credit situation et all. Recession is upon us and the trend has changed to down. We are in the first minor 12345 of a Big Bear Market down to 770 S&P. No matter what some airhead says the Fed is in a panic because they know it. Some may say that things are not serious but their actions tell a different story. There will be the usual bounces and next week should see one. We should hit my Minor wave 2 target of 1510. This will give many their last chance to move 401K money to money market. The next Minor wave will be a Cliff Dive 3
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