Dear Suresh,Sharing KPL's vfmdirect post.http://www.vfmdirect.com/forums/show.cgi?topicid=1351324094#1351324094Would love to hear your comments.Cheers,Rajiv
Dear Raj,KPL is right in saying that the S&P is undergoing a correction. However there had been nothing impulsive about S&P for a very long time. S&P is in a long term corrective mode.14198.10 on 12 10 2007 to6469.95 on 06-03-2009 is wave ASo since 6469, wave B is in progress.Wave B has the following components:6469.95 06-03-2009 to 30- 04 2010 11258.01 a11258.01 on 30- 04 2010 to 10201.93 on 02-07-2010 b 10201.93 on 02-07-2010 to 12876 on 06-05 2011 c12876 on 06-05 2011 to 10404.49 on 07-10- 2011 d10404.49 on 07-10- 2011 to current stage, we assume, wave e in progress. It is at 13107.21.It has support at 12977.09. When e ends, B also will end. And then a destructive C should commence. This may coincide with our own E wave. Looks like our US Friends are not going to avoid the fiscal cliff, after all.