(Click at the pictures to enlarge)Okay we saw a small new high to 10.119,17 yesterday, but it was so shallow and quick, that I still concider the high (10,117.81) and closing high (10,092.19) made Monday the 19 of October a perfect hit. With that said and giving this all the benefit of the doubt, we do need to see a break below support at 9,940.14, even better a break below the red uptrend line since the March low which comes in at 9,767.17, a break below here would the first serious sign since the false break on July 6, that the bear market rally is over.
If we follow Virgina's lead we now have two perfect hits. A low (8,093.84) on July 10 (the calculated date was July 11), the October 19 top at 10,117.81, the next date to look for is November 23/24 where we should see a low high and finally the crash on December 10.
If the high on Monday the 19 of October was infact the high we where looking for, we can expect a decline of at least 10-17%, but as Jim says it could be even greater than that because we are in the last stages of the peak season, and I totally agree with him.
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