Have The Stock Markets Put in The Final Low?
I commence with my gratitude to The Creator
The answer is YES!, for the short to intermediate time cycles. I had predicted the time cycle reversal date back on 05/08 (
see here the previous forecast).
My forecast has called for another leg down on said date. Since then, markets have tumbled another 650+ points of DOW JONES.
You were even gave a price target of $131 for SPY and time cycles of 05/17
(later post here the very next day, updated to add another day for time cycle reversal, thus giving us 2 days windows of 05/17-05/18).
Today price drop brought the markets to about 50% retracement of the leg up from 11/25 to 04/03. Today's prices are, also, at the 161.8% extension of levels of the down swing from 05/01-05/08. Thereafter, NASDAQ and QQQ, and SPY went side-way consolidation for seven day. Moreover, today Markets have been doing a dance of zig-zag and thereby SPY testing the price level of $131. The increased volatility is clear indication of the bottom being in place.
I am also showing a weekly chart of SPY, where the proprietary indicator, (which has been very successful in calling in bottom) is showing that we do have swing low being put in now.
Find your favorite stocks to rack in the sharp rally's profit in coming days...
I commence with my gratitude to The All-Knower
See the results. Markets around the world are experiencing the rally. European have galloped so have the US markets. NASDAQ has jumped over 2%. See the attached charts.
