PHI and SPY October 25, 2009
We got the reversal lower. We may get a bounce in the next day or so but should be headed down. Looking for a mid-November 2009 trough. See below.
Forecast from 09/27/2009
The markets were up but kept going up past our Oct 12 date. Nevertheless it would appear we have seen the top of the primary cycle (nominal 18 week cycle) and should be headed down into mid-November 2009. We may get a bounce here shortly but still looking for mid-November for the trough. This would be approx. 18 weeks from the previous primary cycle bottom (PB) of the cycle which is in the range of 15 - 23 weeks. See chart below. The blue line running through the red Nov 9-23 line is 89 trading days time 2 from the March 6, 2009 bottom. 89 being a Fibonacci number.
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