Market Forecast Update

I commence with my gratitude to The All-Knower

Russell 2K
IWM Chart Forecast

I was looking at some other charts during the day and I saw an amazing pattern on Russell 2K Index ETF, IWM. Just like SPY and QQQ it has gapped up on 02/03 and since then (it is 3rd day today), it has been unable to break out. from the price range of 02/03. It has also reached the downward trend-line starting from 05/02/2011, which pushed down the markets also on 07/07/2011, that resulted in the global sell-off.
IS IT GOING TO REPEAT IT AGAIN...??

The 02/03 price is also an 1.618% (golden ratio) extension  the leg down which occurred during Oct-Nov 2011. My favorite tweaked momentum indicator, has successfully indicated the top in the past, it is showing that again...
We have the time cycles indicating a reversal zone... Watch out ... for correction in this week. 

Stock Markets Analysis & Forecast

I commence with my gratitude to The All-Knower

Market Forecast with
Proprietary Indicator

Markets, after having small corrections, have been dragging itself on its way higher. On the surface, it seems that markets are ready to gallop higher than current price levels.  However, we need to look at the history of time cycles, which tells us an interesting pattern.

See attached chart. This proprietary indicator, has always been successfully calling the markets' tops since last several years. There have been only two instances,where it indicated a top, which only resulted into a small correction. Which is the case right now...? Only the time will tell.

QQQ Chart with NHN

However, based upon the NHN powers, some indices such attached as, QQQ chart, has reached a certain NHN number which offers strong resistance, especially for some equities or indices. It has not done so for QQQ in the past. Would it do now for QQQ?

What I think is that market shall have small correction now and then shall go higher into the next time cycle of Feb 17-21 week and then shall experience a sizable correction (if that does not happen now).. Nevertheless current week ending 02/09 has an important time cycle which does create reversals. Next time cycle is as said earlier, 02/17-02/21