Next correction - an 8% or a 20% pullback ?

Toby Connor (GoldScents),
"I think there's a pretty good chance we will see the entire intermediate rally wiped out in a matter of days or even hours ............."

"My best guess is late June or early July ..............."

"I wouldn't be surprised if we collapse back to the 1350 level .........." (He was talking about S&P 500.)

Click ' Euphoria Phase turns into the Parabolic Phase' to read the full article.

A drop from 1700 to 1350 for S&P 500, it is a 20% correction. This is a much bigger correction than my projected near-term (early July) 8% to 9% wave (viii) pullback for Dow as shown below.

 

For Dow, if my wave count is correct, the 15% to 20% correction will take place after it has completed its wave (ix), that can last several months from August to end of 2013. Major wave (6) (20% correction) will only move in after that.

 

At this moment it is too early to talk about major wave (7), major wave (8) and major wave (9).

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