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On a daily basis, we appear to be working toward a six month low. While
these cycles do exhibit variation, it may be a bit early for the completion
of this cycle. A year from the privies semiannual low would take us to mid
March. Six months from the last annual cycle would take us into April.
If the apparent 18 month cycle holds up, the next low is due around early
August. In a well behaved market, this low would take us back to the
horizontal support line shown.
Then, of course, we can look forward to the annual October massacre.
The big question is weather, or when, the DJIA will join its weak sisters.
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