Mr. Market follows our ROADMAP

We posted on June 12 the following ROADMAP:

CONCLUSIONs:

1. We have entered the airpocket with a material breakdown
2. expect a test of the 200d SMA & the March 2011 LOW - already DONE !
3. ...if the 200d SMA does NOT hold then expect a tumble though the airpocket and a subsequent test of the May 2010 in late July (August) seems likely
4. ...if the MAY 2010 HIGH does NOT hold then plan for the FIBs (expect some sideways action around those levels given the Volume cluster in this price area)
5. ...if we break through the summer LOW of 2011 expect more than a medium term correction

• Each successful test can be the beginning of a continuation of the BULL (Think QE3)

update:

We should now see a pause or a bounce after testing the SMA 200. Pls bear in mind that the lower part of the AIRPOCKET has even 'less air' in it than the part we just cut throught. This means once we fall through the current levels we could see some quick move down through the entire AIRPOCKET testing the May 2010 High.