Stock Markets Update 8-18-11

Stock Markets Update and
Forecast 8-18-11

I commence with my gratitude to The Creator

S&P-500 level of 1,200 being reached and coinciding it with the time cycle of 08-16/08-17 have proven to be fatal for the markets' recent rally.

Markets have confirmed the direction of the markets.Market has not only broken the support of the low of day on 08/16, but also very important support at the highs of three highly volatile days of 8/18-8/10, which attempted to market a near term bottom and started 850+ points rally of Dow Jones or 8+%.

When a market is unable to maintain the counter trend move beyond the 38.2% of the previous trend, then previous shall remain dominant and market shall continue to move in the direction of the previous trend. Once market break the low created in the said three volatile days, then it is heading much lower. Next SPY Targets for example are %107.8 and $104.20.

Stock Market Forecast of 8-11-11 Update

I commence with my gratitude to The Creator

I had posted an analyses and forecast that the price area, where markets have fallen to, "This area offers a strong support" I further added that if that alone is not an "enough reason, to create reversal", then the stronger reason is the "time cycle for potential change is 08/11". I concluded that , we ought to be ready for a bounce off from yesterday's close. I had also posted a chart, with potentially Inverse H&S being formed, which remained valid.

Well, today, once again, Forecast came to fruition and was proven correct and Time Cycle did have lots of air, enough air the blow the markets indices 4-5% higher from yesterday's low.

Stock Markets Forecast and Update 8-10-11

I commence with my gratitude to The Creator

Markets keep pushing down. Yesterday's rally was used to sell again, today. However, if we look at the chart, we see that today low did not violate the recent low of last 2 days. Markets closed just notch above the yesterday's low or 08/08 close.

Market Forecast 8-9-11 - Dow Jones Industrials

This area offers a strong support, which has lot of probabilities going for it. For example, current leg down is 127.2% f the correction of April - June 2010. Furthermore, there is some more clustering of Fibonnaci and Gann support levels, such as it 1/3 or the total bull run from March 09 to April high of 2011. and this week low also coincides with the 2/3rd of the July 1 2010 low the 2011 high. Is that enough reason, for the rally to continue, only the price action of the market will tell it tomorrow. But we ought to be ready for bounce off the low of this week. Other alternative is the market keeps going down. However, bears are running out of the momentum. and it is last of their attempt. If market does continue to drop, then it ought to find the support at 10,450, 10,100 or 9,700 for Dow Jones Industrials. Last two numbers are like brick walls. Bears will get bruised real bad, once they hit those levels, thus giving bulls will take over the control of the markets, then. Similar areas of support for S&P-500 lie around the area of 1,098, and 1,020. Next time cycle for potential change is 08/11. If the market continues to drop, then, next time cycle shall be 50% of previous time of leg down, which 08/13 (being it the Saturday), then Friday Close (or Monday) would be the turn date for the markets.
No Matter What, This week shall create a turn for the markets. Next week, markets shall start seeing big green bars (if it does not start within next two days)