5/10/2010: The Dow Jones 30 benchmark indicator has retreated from the Attractor at 10783, in an astounding 1000 point one day drop. The recovery from the drop was immediate, but I fear short-lived. To me it looks like the Dow needs to see 8000 before it sees 12000 again
6/7/2010: Still looks to me like we are heading for a break of the key 99squared=9801 level going on down to 89squared=7921. That would be a retracement of 75% of the move from March 09. There are heavy Attractors at the 8856 level, which would be a 50% retracement. Perhaps it will stop there.
ALERT 20100304: It happened just like I "predicted." Except it didn't quite get as low as I thought. I said Dow could go down to 9732; it only got down to 9800. Pretty close! See Archives. For more up-tod-date comments, go to the MoneyMentorBlog.
Now I have a buy signal. To me it looks like Dow will rise to previous highs at (or about) 10,737 with a likely breakout and extension to 11,084. Now's the time to buy for the next 3-6 weeks. Watch the move carefully. If it doesn't decisively penetrate 10,737 to the upside then take cover.
20100208: And it happened just like that (see previous commentary below). Now the Dow is working on a retracement to recover between 23.6% to 38.2% if its move up. In short, that means we are looking at a down market for the next 6-12 weeks, going down to 9732, or further to 9109.
20091108: Dow is stretching to the long-term trendline shown below in cyan. Line currently lies at Gann 103 squared = 10,609. From there we should expect a sharp jump above the line to mimic a decisive breakthrough, followed by a collapse back to the line before finding another intermediate term direction.