Disregard this letter also.

Posted on Jan 22, 2012 by WHC Bassetti in Letters

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p40392582161&a=254727527

You can use this link to see a larger chart.

We haven't stopped detesting forecasting, but there  is a question in the waves here that should at least be mentioned.  Our last comment on potential for this trend, using the Wyckoff measuring method,  forecast a wave high of 1860.    While this seems fanciful to us, there is another method we have talked about before -- the rule of seven.

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