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In the previous email I said the market was "over-sold", I, of course, meant to say over-bought. For those of you who like to play with numbers here's an odd coincidence. The high of the year occurred on January 6, the low occurred on March 6 and the current predicted impulse date is May6. There are 42 market days between Jan 6 and Mar 6 and 42 market days between Mar 6 and May 6. Taking this silly exercise to the extreme, 42 is the sum of fib numbers 34 & 8 and 21 & 13. Like I said it's an odd coincidence. - Pete
To: realtraders@xxxxxxxxxxxxxxx From: plieber@xxxxxxxxxxxxxx Date: Tue, 28 Apr 2009 20:21:02 -0400 Subject: [RT] Optimum Market Top Date - May 6
For several weeks now my analysis has pointed to May 6 as an impulse date (see attached). Given the over-sold condition of this market I assume May 6 will mark the top or the start of the first leg down. - Pete
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