Predicting the Market

Inherently, it is challenging to forecast the direction of the market purely based on Technical Analysis. Even more complex is predicting market timing. Rarely do both attributes of direction and timing develop as anticipated. However, on this occasion, using classical analysis of trendlines, Fibonacci projections and basic Elliot Wave analysis, occasionally the probable scenario transpires; an infrequent example below:

Original post 19th April 2008: http://stevepuri.blogspot.com/2008/04/bull-or-bear.html
According to the projected path, price action of the Dow may be completing the fourth wave of a 5-wave Elliot decline beginning 19th May. The fourth wave of rising equity prices may complete by the second week of September. At which point, the final fifth wave of declining prices may ensue towards the year end in time for a possible trend-reversal driven by an Election Rally and the seasonal Santa Claus rally into 2009.