I may not be the best out there to predict what will happen next, but applying Elliot Wave analysis Theory, I was having fun making a new alternative count in accordance to Tony Caldaro's expected end of bull market in 2012.
From my chart below, I was just playing around with his chart, and trying to analyze what count are we already in right now. The my standpoint view, the 11500-11700 is really very very near and we could already rally or maintain the tradable sideways where people still make money, rather than the 1.5months continuous drop where everybody burned cash.
Just my hitch, I created my count below, with the help of Tony Caldaro's updated chart, I was expecting this "alternate count" to be in our Primary Wave IV correction already, the Primary Wave II correction last 2010 lasted 1.5-2months, so might be the current status of our market.
Applying this very short Bull market and Elliot Wave concept, we may be at the fastest phase of a bull market (ranging 2-4years), With not enough growth to economy, China having Trillions of Investment to Europe, U.S. and Asia also have exposures to Europe, It is good to be bullish and optimistic, but like a Domino, if one falls, so will be the others - it would really make a big hit to the global market. After this expected long correction, I am expecting another 5 intermediate waves of rally to complete the Primary V rally until early 2012 (estimate of DOW 13k-13800)
In my own opinion, it may be correct, since Stimulus will cool down, and European debts will go crazy, its just my own "alternative count", and I will be using this guide to play this market till 2012. After that, we might see the slowdown or Europe will enter recession. Its still not end of the world, we can still make easy money, but need to have a very cautious one.
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