Tuesday, March 10, 2009

Was that the bottom?

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The DJIA climbed nearly 380 points today. Was that the Primary-degree low, i.e., the first major low in the Grand Supercycle bear market?

Bob Prechter seems to think so:

Chris Carolan, an expert on the seasonality of Wall Street's mood swings that underly Elliott Wave price patterns, seems to concur with the notion that this is a major low. Carolan is looking for a multi-month rebound into mid-May from here based upon his "solunar model".

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