I commence with my humblest gratitude to The Creator, The One Who Knows it All
I want to pay my gratitude for all of your well-wishes and warm feelings sent over to me during my time off
I am finally settling down after long-distance relocation from California to Chicago area. (my motherland, first or second, I have yet to decipher). Internet was turned on a couple of days ago.
During my absence or 30 days or so time off from the markets' scene and activity, it seemed not much has happened or it happened as I had expected. See my forecast around the time of August 8. When markets were dropping hard, I had predicted a rally back to higher levels then of those of Aug 8th and I gave a price target of 12,000 for Dow Jones Industrials. Well, we did achieve that level, while I was away. Nevertheless, my forecasts came to fruition.
Now let's look at the current picture of markets. Markets have failed at the critical price and time levels, thus triggering a weaker outlook for the markets (unless, I am forced to change my perspective).
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| Markets Forcast 11-28-11 SPY chart |
I foresee markets leading higher up-to SPX level of 1,200 or even 1,220 (once the resistance of 1,198 is blasted through). If said level is achieve within the time cycle of next CIT date, which is 12/01, then market shall turn lower to next time cycle of 12/08-12/09. and thus retesting the lows (or higher band of the lows) set back in August of this year.
Price target for SPY is $122 and next time cycles are 12/01 and 12/08-12/09.
Stay tuned for detailed forecasts and analyses of Stock Markets, Commodities, such as, Gold, Silver, Crude Oil and Some of favorite Stocks, such as AAPL, GOOG, NFLX, GS, etc.
Happy Trading.