Unemployment Rises again....

Reading McH's update has been inspiring this morning. He is harping on the unemployment #'s that are false as usual and the Anti-Stimulus package for the Ave. Joe. "Tax Payer".  I know some of you are subscribers, and believe me he is worth the cost in comparison to EWT.  I also got an update sent to me (accidently) from the Neely camp...I no longer subscribe to his updates, but it was interesting to see that he has us topping out within the next 30 days or so...then dropping into a triangle scenerio.  We do not make a new low in his opinion, I thought that was interesting. His top though is within the Mc area...1200, funny I do not like that # myself.. I have it going higher if we do the throw-over scenerio I had written about the other day.

He also goes on to talk about the 30 consecutive Mondays that this market has gone up, and as I am writing, it looks like it will be # 31... His Gold views differ from EWT's camp..now I think this is a battle...LOL! but I had  gold going down last week, and it did just the opposite so it has to be in a temporary corrective pattern, finishing A down and currently in a B wave going higher as I write... so again, it is very oversold, and should start a C wave down, soon...????  LOL!  These days even the Pro's Suck as bad as I do..LOL!  The good news is at least I can handle my worst reviews!....  I have done worse that is why!...  Oh and Neely, he jumped out in Sept. 09, and has not regained his composure yet, loosing the rest of the up-move just like myself...35%.....OUCH! 

I want to share some thoughts on this up move, If you go to a Logarithmic scale of the DJ  we could be heading further up to develope a Head and shoulder pattern...Elliot has always facinated me in several ways...if you top  it tends to always retrace tops and the same with bottoms...now I hate to say this but we could revisit 2000's top, we are on the GRANDsupercycle  scale, so if we went back to 2000, we would have a H&S pattern that then would pattern out into a triangle...S/P current 200dma is 1235.89, we would have to break that, but that is very close to where I believe we are going right now... if we break the 200dma, then we can look for the H&S pattern as another scenerio.  In the mean time..I have found a patten that seems incredibly similar to the ending diagonal that we seem to be currently in...and if this pattern is a C wave...we need one more move down to the 20 dma(1077.40) and then one last thrust up to finish this move. (walkers book on c wave patterns pg.167)  Then Neely has an interesting pattern that looks very similar to this pattern too...he calls it an Elongated ZIG-ZAG...or oversized C wave...he has the retrace going to 81% of the A wave.... figure 5-26, pg 5-22, of his book, again that would give us the H&S pattern back to the 1400 area... sounds crazy but it could happen  it is very interesting what he states about this pattern, that you would never dream it would happen LOL!  seems maybe this is the pattern...I would never have dreamed we would go this high...would you all?   OK, gotta get some shut eye, good luck trading..I like GE short term, also like POT, and JRCC.... KOL   and gold miners....Have a nice Monday...>L