Including RISING or FALLING Wedges, an observed price pattern named after its Advocate and Exponent, Bill Wolfe, in its rudimentary form, gives us some concepts of where the prices could shift, if they seek balance in the manner Mr.Wolfe indicates they may, given the last year of market movement. Understanding that there has been unprecedented market intervention by non-market entities, there is the possibility of skewing and distortion, so this approximation of how I would apply the Wolfe Wave principles to the current market are shown here for your interest, and conjecture.
Not surprisingly this chart shows a potential low of about 10.6K on the DJI ( interpreted back from the DJA Composite) potentially manifesting that low point by about May 1, 2012.
If we look back we see Rising Wedges drawn on differing time frames, and without trying to expressly adjust for intervention, it is still easy to impute a like form here as well.
It is my opinion that the Talking Heads, the supposed experts on Fast Money, CNBC and the rest of the Main Stream Media (MSM) will off "Talking Points" ad nauseum as to why this is not possible, but I will stand strong in the face of this, and say, ITS COMING........
The CORRECTION down into the 10K DJI.
Believe as you wish, but don't chances, for after all:
ITS YOUR MONEY>>>>>>>>>>