Posted by: rp on the 16th of Oct 2011 at 02:40 pm
my alternative scenario (blue) seems to match well with the comparable wave 2 from the last bear market for both scope and time but i am still leaning towards the orange (primary) scenario for various reasons. i do also have a more bullish scenario which i may try to post later. based on where we are on the chart (at or just below key resistance), we should know by next week if my primary scenario is nullified. i’ve also tweeked my “Where are we?” chart from a couple of weeks ago to reflect more accurately where I think we are right now in the various stages of a bear market.
