Tuesday, March 24, 2009

03.25.2009 S&P Zoomed In

Just as a follow-up from my post last week, below is the updated and "zoomed-in" image of the S&P.  I did not save my chart, so if there are price points here that are off by a point or two, that is why. The nature still seems the same.

I am still tracking a market harmonic that could lead up to the 835 - 840 area.  In terms of time retracements, that would happen between now and the beginning of April.  Since the 38.2% time retracement lines up with the upper channel line, I would think within about 3 - 4 days, but this is just a guess (no one can know until after the fact):

SP500

So far this projection (which seemed extreme to me last week) is playing out.

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