Editor’s Note: We are currently writing November’s monthly Insights. In addition, we are putting the finishing touches on our new website. The site should be functional within a few days and we will finally begin to take subscriptions a few days after that. At this point, we expect to e-mail the Insights report to those who have informed us of their intent to subscribe. In addition, if all goes well, the comments that typically appear on this blog will only be available on the website. If you are interested in becoming a charter subscribers, or would like more information, please send an e-mail to WMGALLC@gmail.com.
Both our 30 minute HLC P&F chart and our hourly line chart on the S&P can be counted as a five wave decline from October’s high. This suggests that the index could experience a decent rally during the coming week. However, if our count is correct, this rally would be expected to be followed by a new decline that should be at least as intense as that experienced in recent days.
Sunday, November 1, 2009
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