Has The Bottom been Put In?
I commence with my gratiutde to The Creator,
Recently, I have been writing on the financial markets, very lightly. I have been on summer break, trying to focus on some other matters, and taking sometime off from the daily routine of financial markets analysis.
On July 9th, I had predicted that Markets shall take reach the next resistance level of 1,400 for the SPX Stand & Poors-500, and I stated, " I look forward to S&P-500 level of 1,400 in very near future." I reiterated my prediction on 07/12, "I foresee a strong bounce coming, which will leave Bears in shock. "
The very next S&P had experienced a 24 points rally. As a matter of fact, all the green bars, thereafter, did always put the bears into the shock, for example 07/26, 07/27, and 08/03. These dates, bulls took out and smashed, all the hard work, bears had put in over the several days preceding to the rallies.
Now once my forecasted level of 1,400 been achieved, what NEXT now?
Please see attached picture of the recent market activity in a chart. My proprietary indicators are telling me two stories, which both are correct....
One story is that, I foresee higher prices coming into the future, our next target is S&P 1,440. But, first market shall consolidate and pull back at the current level. Therefore, look for consolidation and pull-back RIGHT NOW starting from 08/08/2012, and once said pull-back are done, which shall be a buying opportunity, markets shall rally into new highs.
Yes, Markets have put in the Bottom.
Summer is about to be over and so it the sell-off brought by the summer. Fall shall bring in cheers for bulls.
I commence with my gratiutde to The Creator,Recently, I have been writing on the financial markets, very lightly. I have been on summer break, trying to focus on some other matters, and taking sometime off from the daily routine of financial markets analysis.
On July 9th, I had predicted that Markets shall take reach the next resistance level of 1,400 for the SPX Stand & Poors-500, and I stated, " I look forward to S&P-500 level of 1,400 in very near future." I reiterated my prediction on 07/12, "I foresee a strong bounce coming, which will leave Bears in shock. "
The very next S&P had experienced a 24 points rally. As a matter of fact, all the green bars, thereafter, did always put the bears into the shock, for example 07/26, 07/27, and 08/03. These dates, bulls took out and smashed, all the hard work, bears had put in over the several days preceding to the rallies.
Now once my forecasted level of 1,400 been achieved, what NEXT now?
Please see attached picture of the recent market activity in a chart. My proprietary indicators are telling me two stories, which both are correct....
One story is that, I foresee higher prices coming into the future, our next target is S&P 1,440. But, first market shall consolidate and pull back at the current level. Therefore, look for consolidation and pull-back RIGHT NOW starting from 08/08/2012, and once said pull-back are done, which shall be a buying opportunity, markets shall rally into new highs.
Yes, Markets have put in the Bottom.
Summer is about to be over and so it the sell-off brought by the summer. Fall shall bring in cheers for bulls.
