Today's selling got 10 pointe more than I expected and I have to adjust high of rest of 2009 to 1060 from 1080. I think we are in a major down wave (1) and so far we are still within the subwave 3 of this down side wave 1.
We will see bounce Monday BUT the bounce will be short lived.Short term down side target 1000, after that we will see a sizable reversal to 1060 to complete this 4 of (1), and 5 of (1) could take down to 970/950. After that, an end of year run can again re-visit 1060 to 12/31 -1/9. Then wave (3) will start.
