I commence with my gratitude to The All-Knower
I get lots of emails, where people are going crazy with their analyses of Gold, market indices, trying to square with time and prices, using gann angles, gann boxes, squares, counting bars, days, etc. If the time cycles are not working and not there, then you shall not get meaningful results from any and all of your research.
Having said that, if you look at the chart, it tells a story of thousand words. Market cleared all the consolidation and sell-off from 3-weeks, in just 3 bars. SPX consisting of 500 stocks, IWV Russell consisting of 3,000 US stocks, show these these 3 bars, where a powerful pattern of handle of the cup or right shoulder of H&S, just completed with these strong 3 bars.
Dow Jones Industrials, after clearing the resistance at 12,560, 12,750 is the target. SPX targets were shown in last week's post and also shown on the chart herein, and NYSE target prices are 8,655, 8,760, 8860. QQQ after clearing the resistance at $59.06, shall proceed to next target of $60, and $61.80.
Time Cycles: Next time cycle is due on (04/27 is astronomical geometrical set-up) 04/28-04/29. These time cycles shall offer resistance. I also expect some consolidation, and or some retracement on 04/25 (which shall be buying opportunity), followed by run up in the price higher, until next time cycle, as noted above.
I had published the following forecasts on 04/18 and 04/24. I had predicted on 04/18, when market was falling hard that we had put in a low on 04/18, with a potential retest of the low. Then on 04/24, I had forecasted a consolidation/small retracement on 04/25, followed by a run-up higher till 02/27, with some retracement on 02/27 and then higher into 02/28-02/29. I had forecasted a price level of $59.09 for QQQ (today close was $59.11), for SPX 1,356-1,360 (today close 1,360), for DJI 14,750 (today DJI close was 14,760)
