Thursday, December 4, 2008
Long Term Big Picture; Dec. 4, 2009
I think it's good from time to time to post the big picture so we don't lose sight of what's going on-on a large scale. The chart above is a daily chart of the S&P. I labeled the chart assuming that we will soon rally sharply in a wave (4). You can see that once that's complete, we will fall to new lows for 2008 in a wave (5). Once that occurs, the entire decline since last year will be wave  in a 5 wave cycle. So a major multi-month strong rally will occur in wave , which I feel will be due to the euphoria of the Obama presidency beginning. This wave  is one we don't want to get caught short in, and we definitely want to be long during this rally.