I commence with my gratitude to The Creator
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S&P-500 ETF (SPY)
Daily Chart Forecast 10-6-11 |
I have not been feeling 100% healthy, that is why, you have been seeing slim publishing of the market commentaries.
Nevertheless, watching the markets on daily basis, is my routine.
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Tech-heavy NASDAQ ETF, QQQ
Forecast 10-60-11 |
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Financial Sector Daily Chart
Forecast 10-6-11 |
I foresee another leg down starting as early as 10-07-11. Please see the charts attached herewith. One is QQQ, which tech-heavy Nasdaq-100 ETF, second is the mirror ETF of S&P-500, namely, SPY and thirdly, is Financial sector ETF, called, XLF. All charts portends another fall, as all charts showing the markets rising up-to the resistance of downward slopping trend-line, thus making bearish flag, pennant. There is gap down energy, level as present at the closing prices of the today. Last two days rise, has been on decreasing volume.
Based upon weekly time cycle, it seems that correction is not over until minimum of November 25 week. Further continuation of sell-off shall take it to the 12/16 or 12/25 week.
