23rd May 2006
 
I agree a rally is likely now with the next reaction wave typically to 20360, 20 600 or 21170 on J203. Behaviour of impulse down and macro factors after that, will tell us if we need to get further Satrix downside protection.
 
Counts call 20360 then the 16500-17500 zone  now to mid July. If you want input into 9-12 day swings I can do it.  
 
I like to look at drawdown willingness as a % of  three month average I am willing to lose for conviction for a recovery view.