S&P 2602.33? Once again stepping into the dark waters of mystery…

Posted on Jun 02, 2014 by in Featured Letters


In October 13 we presented the above chart ( http://www.edwards-magee.com/?p=4463) (link below next chart)  which  made a daring analysis based on the rule of seven.  We didn't make a big thing out of it, and said, correctly that it was just the application of an old technical analyst's tool.  As you can see it was written when the market was around 1634 and foresaw targets of  1634, 1955 and 2602 and change.  We have surpassed the first target and are knocking at the door of the second and who knows about the third.

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