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Thursday, August 4, 2011

Cycle Still Working...

Back in May, I posted a study [see:  Sure, It Works in Practice] that found a 87-day cycle that did a pretty good job of predicting significant downturns.

I haven't posted the chart in a while, so here it is again for anyone who's been watching.  The predicted 30-trade day low of 1197 happens to correspond with where I think we might find the next level of support.

Keep in mind, that figure is based solely on achieving the average 11.03% decline that the study has found.   This one could be better or worse.

I'll add to this post after the close today.

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