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Tuesday, March 15, 2011

market relative weak correction (#8 in both size and velocity for past two years')

entire correction as double zigzag for $spx, $rut, $indu.
the threat of T3 crash has relieved, as $cpc and $trin never get near the trigger level, and turning away to the market bullish direction as updated early in the day. and $spx rally from the red bottom pitch fork trigger line,
excessive fear factor favors ST market rally. we can easily tell the fears in the market without reading any chart!
even the worst Japan iShare recovered more than 50%, and near 61.8% of two days' gigantic losses.

current double zigzag rhythm well with June 2009's double zigag correction, in terms of time, pattern, elliott wave, points of plunge. i remember most professionals were very bearish during the bottom of Jul 2009, which proved to be a major bottom and had a multi-months rally.
despite so much century and decade level major events and fears, this correction is weak and remain #8 in size and velocity for the past two years since the market bottom on Mar 2009 anniversary. a real plunge from the market TOP should be much stronger in both size and velocity than current relatively (#8) weaker correction.

for more:

critical market report issued to active blog key members, and more is on the way.