Week Of April 19, 2010

The pull back expected to start around April 19, started on April 16 with the news from the SEC and Goldman Sachs. I'm looking at February 5th as the nominal 18 week and 50 week cycle lows. Since we have not had a sunstantial pullback this is the timeframe (11 weeks along) for a 1/2 primary (18 week) pullback. If so this could be a very sharp steep pullback.

I'm looking for a pullback to either the 1175 or 1150's area for the SP. This ideally would be somewhere in the next 2 weeks. See fibs on the following chart. If this is a 1/2 primary cycle low forming then 1090 - 1110 is not out of the question.





Gold and Oil both made major cycle (approx. 6 week) lows in late March there the next major cycle lows may be forming.