Hello CK:

One thing I will say from the fundamental side. As bad as some of our economy is, Europe may be worse. So longer term, I think we eventually start heading up.

But again, I agree that we have seen a 5w end on the weekly. I'm just trying to figure out what all that "before" that was. From the bottom in early 2011.

Let me stress again that when I trade, I'm not one who throws everything in due to an EWave pattern. My profile explains how I trade. However, there is too much that does apply to ignore EWave so I always like to see if I can read the tea leaves.

I can see a 1 2 up from the bottom in early 2011. But what the heck is all that after that if this is supposed to be the start of a huge wave III (lol). If this is supposed to be the start of a big Wave III, then the only thing I can "possibly" see (from an EWave perspective) is that everything after that initial 1, 2 is the start of a "leading" diagonal 1,2. Normal diagonals are 3,3,3,3,3. Leading ones (in waves 4 and A and 2) are 5,3,5,3,5. YOu can see a 5,3,5,3,5 diagonal here.

I have seen this a couple times (Copper a few years ago). And the best example was the Dow right after the 1987 crash. What followed was a leading diagonal that then corrected to about the middle of it and then shot off up to the stars after that. That happend in Copper a few years ago. The techs saw a diagonal/wedge and thought "ending pattern" In reality it was a "leading".

So if this is a "leading" we could see a correct down to between 78-80 and then up strongly. IF this is part of the start of the big Wave III. But it if this is the end of just another corrective wave up, then we could go back down to 70. All will depend on whos economy screws up more (lol).

Have a good day to all!