Wednesday, October 21, 2009

Dow and S&P Levels to Confirm Collapse

As promised, here are the Dow and S&P charts and levels that mark the ascending trendline that's been holding this market up since March of this year. A convincing break, close, and hold of levels beneath this trendline by BOTH the Dow and the S&P cash indices will confirm the collapse in wave 3 or C is underway.

The S&P cash level is 1040
The Dow cash level is 9422

These levels are only good for tomorrow though as they increase upward every day. I'll keep you posted of the trendline levels as we approach them.


Michael K. said...

S&P cash is at the 61.8% retracement, which is around 1091, buying DRV with 50% of my portfolio at $19.3, will save the other 50% in-case we make a new high or when we break 1040. :)

Todd S said...

Good luck!