[Update Sat 3:50PM] [Update 3:50PM: Update to the update: Just to be clear, I don't think the post-Lehman path will be followed here in that the market will struggle for a few more days and then drop very hard. I am saying its possible but I rather favor a wave 2 Head and Shoulder pattern as outlined earlier in this post.
I am still amazed at the similarity in the Wilshire of where it has reached and the way it broke down so far. Superimposing candles next to the 2008 Crash is interesting at this point. The bounce on Thursday was a full 42% retrace which is starting to wander into potential wave 2 territory. Much like it bounced in 2008 after the initial down candle of 29 September.
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