Model working perfectlyPeople don't realize yet but the crash has already started. The mkt has just started to turn down so it's slow right now but that will change. Nothing can stop it.
My long term model showed Nov 5th as the top or 2nd peak for mkts, and last week was the lower high or 3rd peak for the mkt. The lower high was the last event to happen before my model shows the crash. I do expect one last lower high for mkts on the way down in about a week and a half. I will show some calculations when I have time later, my model is quite exact in terms of timing.
The Euro is already broken. On my charts it backtested perfectly a major broken trendline on Friday. Today it is falling hard. The Euro has failed and it will collapse in a shocking way. Tomorrow could be quite a significant day to watch the Euro closely due to the following:
"Elsewhere, another potential trouble spot for markets is the Irish parliament vote slated for Tuesday on the government’s harsh 2011 austerity budget, which would assure the country obtains rapid access to rescue funds from the European Union and the International Monetary Fund.
“Failure to pass the proposed budget could result in political instability and uncertainty about whether the EU/IMF package will still be made available,” TJ Marta, chief market strategist at Marta on the Markets, wrote in a note.
The bailout in Ireland is very likely to fail in my opinion. I plan to hold FAZ for a while. I said my first target for FAZ was in the $15 range, and I am looking for low $30's after that.
SC