Elliott Research

On 3/17, I swapped directions since I believe the index has turned bullish. On 3/10 the index hit my target if wrong value so I'm adjusting both to: 17250 and if wrong, to 18,300 by April 1. This is a swap in direction to down from up. I think it will find support shortly, but it might drop as far as 17,000, site of the two bottoms since December 2014. On 2/27, I adjusted the targets to 18,500 and if wrong, to 17750 by mid March. On 2/13, I raised the target if wrong value to 17,500, and the target to 18,400 by 3/1. That's about how much the index will climb to or drop in about 2 weeks. The index hit my target today so I'm raising it to 18000. If I'm wrong, look for the index to drop to 17,200. Okay, pipe dream. The index is tumbling and it hit my "wrong" target so I'm lowering both the target, to 17,800 and if wrong, to 17,000. I'm thinking that support will turn it but with weak earnings rampant, I may need to lower it again. -