We posted on June 16 the follow up to our ROADMAP:
JUNE CONCLUSIONs:
- We have entered the airpocket with a material breakdown - DONE !
- expect a test of the 200d SMA & the March 2011 LOW - DONE !
- ...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 - DONE !
- ...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) - DONE !
- ...if we break through the summer LOW of 2011 expect more than a medium term correction - DONE !
- (SEP 17, 2011)...now that 1-5 have materialized we have to add chapters to our story. After testing the 38% Fib level Mr. Market consolidated n a textbook Flag Pattern up into the Airpocket again right around the Option Expiration and close to the Month & Quarter End (window dressing). The correction took place with decreasing volumes. The next target should be the 2010 LOW which coincides with the 50% Fib level. This could happen all the way through October.
- ...if 6 occurs anything can happen from there. A waterfall down or a monsterrally up.....bear in mind that every politician and centralbanker around the world will pull all stops to intervene at that stage.....
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