Mailvox: just wait, you’ll see

WB wonders:

Dow back to almost 10,200. What happened to the slide to 6,500?

I did say it would take until July 2006 to get there, didn’t I? This should put the recent movements in perspective.

NASDAQ-100 from June 30 (1516) to August 26 (1385)

1 215 1301 30 days

2 090 1391 10 days

This bounce is getting old and has another week left in it at most, from the looks of it. A 50 percent retracement would take us to 1410, before another decline that should run to around 1200 or so. The Elliott Wave experts would no doubt have more precise targets and better reasoning, but I’m no expert.