The October 2002 low was 780 weeks from the Oct-87 low (65*12 repetitions) and the following October 2007 high occurred at the 65*16 repetition bar (1040 weeks) The next 65 week count is 17 (1105 weeks) and occurs the first week of January in 2009. Ideally this would be a low and preferably a secondary low after the low I expect the first week of November.
I seriously doubt that any rallies which occur prior to the election will have significant force to do much more than work off oversold conditions. There is a considerable amount of fear in the markets and we are entering the tax loss selling period which should put additional pressure on just about all the issues trading on the major exchanges. In case you haven't noticed, hardly any stocks are in uptrends.
Caution is warranted.