Posted Aug 31, 2013 by Martin Armstrong
We elected the first Minor Weekly Bearish Reversal at 14825 but not the second at 14805. This warns that we still should press lower perhaps into next week. However, it does not signal a complete breakdown. The bottom of the Uptrend Channel lies at 14233 for next week. The Weekly Bearish Reversals are 14805, 14450, and the major lies at 13782. Our first Monthly Bearish lies at 13920, but the Major Monthly Bearish remain at 12688 and 12438. That is where a bear market would begin at least for a brief period of time.
The first week of September still remains the target with a minor target the week of 09/23, but the major target remains unchanged as 10/07. The next big target after that will be the week of 11/04.