part 2

2. We are about to finish this leg if not even the whole trend as the extended version of this leg rather points to an extended correction of 25% over the course of 3-4 months - that is what many indicators hint to plus we have extreme sentiment situation on the bullish side.


excerpts

Merrill Finds That Money Manager Confidence In Stocks At All Time Record High

http://www.mclarenreport.net.au/articles/articles/250/1/February-15-2011-mclarenreportnetau/Page1.html

February 15 2011 mclarenreport.net.au

By Bill McLaren | Published  Yesterday | February 2011 | Unrated

February 11 2011 mclarenreport.net.au S&P 500 INDEX Just an update—we still expect this confirmed “blowoff” trend will capitulate into a top between Feb 27 and March 6.  That will end this leg and be followed by a sharp correction that will likely not exceed 13 trading days.  But there will still need to be a distribution pattern before changing the trend and will either be a test of the high, a three thrust pattern or a broadening pattern. Disclaimer: All the reports and content in the entire McLaren Report web site (including this report) are for educational purposes only and do not constitute trading advice nor an invitation to buy or sell securities. The views are the personal views of the author. Before acting on any of the ideas expressed, the reader should seek professional advice to determine the suitability in view of his or her personal circumstances.