As stated in the SOS Report that went out July 8, "The idea now is that the DAX will fall to yet another lower low, below the 6167 low of March 17, to complete the fifth point of this (Lorusso 5-point reversal) pattern.
Then a multi-month bull market will begin, assuming the low for point #5 is somewhat proportionate to point #3 and #3 was to point #1 (i.e. generally around 5950).
In fact, a normal price target zone for this low would be 6026.78 +/- 166.91."
This pattern is named after one of the finest chartist I know, Rick Lorusso of Citibank Corp, and when this pattern unfolds into a major geocosmic time, it can be very valuable signal in picking important turns in the market.
Nov. 11 (Bloomberg) -- Oil may fall to $50.16 a barrel, halting a four-year rally that quadrupled prices, said Citibank Inc., the world's largest bank. Our overall outlook for crude oil prices in bearish," said Rick Lorusso, an analyst at Citibank in New York, in a Nov. 10 report, citing a chart used by investors to predict the extent of price movements.
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