Stock Markets Update 7-29-11

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SPY Analysis, Forecast 7-29-11
Gartley Pattern

Stock markets have dropped into the time cycle of 07/29/11. Furthermore, markets price levels are making a special pattern, which was first discussed by W. Gartley. According to this pattern, when the second leg (DE) down has retraced down to 78.6% of very first rally (AB) up, and first leg down (BC) is 61.8% of the previous rally, then this pattern usually resets the bull market trend and usually it can be found at the beginning of 3rd wave of Elliott Wave's five waves pattern.
Therefore, as expected market shall go higher from here on!

Stock Markets Forecast of 7-27-11 Update

US Stock Market
Forecast Update of 7-27-11
NASDAQ Composite 

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I had published an analysis of the markets, using the NASDAQ Composite, as it was one, which suffered the most losses, and guess, which one had the biggest rally of the day. Laws of Universe!
NASDAQ went to my first support level for reversal (2.7 points higher than my predicted level 2,755 for reversal ) and then market reversed. I expect the markets to do retest of the low of yesterday's and then go higher.

Stock Markets Update 7-28-11

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NASDAQ Composite Analysis, Forecast 7-27-11

Stock Markets are just around the corner in their search for the bottom of recent sell-off, which was kicked off by my time cycle date of 07/25/11. Please see attached chart of NASDAQ. This index had shown more resilience during last 3 days of selling, and today, it sold off the hardest, (remember my rule, the one which stands the last, falls the hardest). Nevertheless turn is arriving and just a day (CIT date 07/29/11) and few more points away. NASDAQ support areas of reversal are 2755, 2744 and 2,730.

Australian Dollar Pair AUD/USD Analysis, and Forecast 7-27-11

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AUD/USD Australian Dollar Forecast 7-27-11

Australian dollars has climbed to the highest level known to this pair. However, looking at the monthly chart of AUD/USD, it is becoming evident that recent climb is most probably the highest price, it would have achieved and probably a crest, this pair was aiming for.

Wave 'AB' from 1996 high to 2002 low, was equal to massive water fall decline wave 'CD' of 2008-2009. The wave 'ab' rise from 2002 low to the 2008 high, is equal 2009 low to current price, the wave 'dc'. Furthermore, the current price is being clustered within many Fibonacci extensions and retracements, combined with the resistance offered by the Pitchfork price/time tool. Therefore, Australian dollar shall find a reason to decline from these levels.

Stock Markets Update 12:36 PST

Stock Market Forecast Analysis
QQQ hourly chart 7-27-11

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Stock Market Analysis, Predication
QQQ Chart 7-27-11

I think stock markets are putting in spike low and it will be retested . The gap of 07/19, which lead the market higher is holding strong. The gap might be tested by fading it and then market would have made higher low (or same or lower low, depending on indices), a double bottom, before blasting up higher. And best alignment of time and price would be the earliest on 07/29/11

Gold and Silver Markets' Forecast Update

Gold Price Prediction 7-26-11

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Gold Prediction Result 7-27-11

Gold and Silver has risen higher since, my previous update here about the metals resuming the trend higher. Last night, I had alerted the subscribers of the forecasting service to watch the resistance @ $1,632, (although I allow $4 orb for profit targets, but) sometimes price levels are so strong that not only first they act as magnet and but then push back as repelling force.

Markets Update

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Markets have broken the low of Monday, therefore, the long positions have been closed and looking to enter short, when opportunity presents. Or wait it out when market present solid long entry. Next time cycle for change is on 0/31/11.

Stock Markets Time Cycles Update 7-26-11

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Based upon the studies of time cycles and their strength (the ability to create the rally or correction of a certain size), I believe that correction is completed. There are many signs fashing, that stock market shall go higher from here on, into the next time cycle for CIT, despite the debt ceiling fiasco and drama being "Played Out" by the actors in the Washington DC.

STock Markets Forecast 7-25-11 FOLLOW UP

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The Time Cycle of 07/25 did stop the rally from last week at its track. Asian Indices NIKKIE, HANGSENG, and SHANGHAI INDEX and S&P ASX dropped including European Indices, DAX, CAC, FTSE dropped 50-60 points from the close of Friday's. US markets followed.
Would this time cycle continue to pressure the markets?

Results are yet to be seen? The High of Friday, shall be "the clue", if that resistance is cleared by the markets, then time cycle of 07/25 is done with its strength, otherwise, if markets break the low of the Monday, then decline shall continue for next 4 more days!!

Stock Market Time Cycles Update

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Upon further review of the similar time cycle coming ingress in the past, revealed that not only the time cycle, which is due on 07/25 shall stop the recent rally, but also, it has the potency to create a sizable correction.

NASDAQ Composite
Forecast Analysis 7-22-11

SPY Forecast Analysis 7-22-1

Therefore, I hope you have had locked in your profits from the long positions and protected them with stops. Markets stopped on Friday at the exact level of where the gap down occurred and market opened on 07/08 high. Momentum has been loosing steam for last few days, during this rally and rally continued exactly into the next time cycle for change in the trend. Therefore, naturally a change in trend is expected.