HollywoodTrader

HollywoodTrader

With my previous prediction complete, and luckily right on the money, here is my updated outlook.

HollywoodTrader

I left my previous projection on the chart and we just couldn't get down there but the timing was pretty good. If this keeps grinding higher I expect we get to about 950 and then turn right back around down to the 800 area. At that point a better idea of a longer term bias can be determined.

HollywoodTrader

Mom told me to never guess the path of a correction, since they're the most erratic, but I learn the hard way. The Elliott Wave theory is strong in this one, so while this scenario might not play out exactly this way, I do feel that it will correct to 680-620 before thrusting to new highs.