We aren't finished yet not by a long way.
For it to stop now would make it the quickest pullback in history we'll have some rallies but this downward trend will go into next year
Keep an eye out for Oct 16 as a turning point for change of trend be alert a day or two either side of it, look at the charts to see what they tell you check for reversal signals 4279 is not out of the question.
Looking at the 50% ranges it has a very good chance.
These 50% levels act as important support or resistance levels.
I doubt the All Ords will decline to 50% of 6873 or 3436 because there has not been 60 years since 1987. 60 years is the approximate time between the last three major crashes. However, it's highly likely the index will see 50% between the major range and find support near 50% or the half way point between 6872 and 2666 being 4769. That means the index has another 1000 to go. We shall see??
In the context of this thread though, does anybody know how this 50% theory is supposed to pan out from here? The originator of this thread, galey seems to have made his last post on feb 17 this year...
If the truth be known, 3436 doesn't seem that unrealistic. It's far from over in the US, so outside of a small bounce, surely there is a lot more pain to come for those still invested in this market...
In view of the carnage that is about to unfold on good Ole Wall Street tonite and in view of the fact that the above post was written 16/09/08 I,m calling you a goddamn prophet Gundini
In view of the carnage that is about to unfold on good Ole Wall Street tonite and in view of the fact that the above post was written 16/09/08 I,m calling you a goddamn prophet Gundini
Afraid so given that the market will overreact to any future downturn. My money is on a hold at 3300 in the shorterm before breaking down the 3000 barrier and maybe a bottom somewhere in mid 2000s. But just like everyone else at the moment.... I'm only guessing Cheers
Give or take 1000? Does anyone see it breaking through 3000? Hard to see it rallying to the 50% mark between the high of 6800 and the current level 3800+ to 5300 any time soon. In for a long sideways journey I feel.