and May 21 market came with a sizable rally, now what?
today May 21, i responded with a precision roadmap on both price and time target roadmap for the Medium term and Intermediate term market development, and explained why today we have a market rally with pattern, price, time, technicals, indicators to suport the outlook of the roadmap going forward. i will follow up with this roadmap, i see it's a curved ball with some tricky course.
all full picture and methodology are presented to members without reservation.
From last week:
Since $spx peak on May 1, 2012, i have listed 2 crash models as roadmap, and followed up with the roadmaps daily.
1). the slow crash just drift down similar to year ... cuts by a thousand knivies.
2). the fast sudden crash pattern matches well with the year 1987 Great Crash... sudden death.
from the reading of $EUR:USD, if my understanding is correct about the lower black pitch fork could be a crash line, ...potential climax of either sudden or slow crash scenario as it's setting up to get close to the line.
even though the pattern matches well with the 1987 Great Crash, but i see a slow crash is more probable due to the market structure.
a fast sudden 1987 style crash will put market at an Intermediate term or Long term bottom (with a later slightly lower bottom).
1987 crash was a market Long term bottom, May 2010 flash crash was a market Long term bottom (with later slightly lower bottom for positive divergence), Aug 2011 was a market Intermediate term bottom (with later slightly lower bottom for positive divergence).
2012 May 18 1987 Oct 21
a fast sudden 1987 style crash is the end of an IT or LT market decline, while a slow crash is the beginning of an IT or LT market decline, after a bounce.
that's my humble understanding of the market structure.