Possibility towards 30-32 being a short entry area and re-test 24
If we look closely, the bear market low of 1974 in time and angle, market participants should realise that cash is a position too. The 1 x 1 1982 is strong support for a possible strong correction. March 5 was or month of March is an anniversary date and end of 5 year cycle
The chart suggests that we should see in March a low and in September a lower low (A and C down) B up could be somewhere in June 2014. 2004 we had a similar year and perhaps 2014 acts similar. A final P5 would end June-Sep 2015.
This scenario suggests 14600-14800++ bottom of Intermediate Wave 4
If Primary III has not been completed, Intermediate IV would lead us to (IV) of Intermediate III
A re-test of Wave IV of Primary III is usually the target of a Primary IV
250 weeks without a 20% correction does not bode well for 2014