A reader asked if I still think the market will go down into March/April 2010, after just reviewing some charts as of Sept. 25 - I think the prediction for a low in March/April has a 100% certainty, in other words I think it is carved in stone. The CRB index is confirmed big time for a low then as well as many other charts.
Sept. 19th Update: Value Line Arithmetic using Yahoo and Stockcharts data is projecting September 23+/- a day for the high, the latest possible would be the week after.
Value Line Geometric index, late Sept looks like the high, there is also a 'T' that peaks then.
Interesting as I'm looking at the Fed to give a final I/T or at least a S/T hi.
ReplyDeleteDoes this high projection, per your count, still have us overall down into March?
TIA
Cal
Hi Cal,
ReplyDeleteYes the charts showing a low into March/April are still valid, we may have seen a key reversal today... http://www.incrediblecharts.com/technical/key_reversal.php ,
NYSI is also starting to roll over. http://stockcharts.com/h-sc/ui?s=$NYSI&p=D&yr=0&mn=1&dy=0&id=p55661745980
Russ
Thanks Russ.
ReplyDeleteI would like to see you post more here and also on T talk.
Thanks.
Do you still think we go to 1200 on SnP or repeat of last year? Tank hard in Oct and Nov and rally into Jan and tank again into March 10 ?
ReplyDeleteI doubt spx 1200 is attainable this year, market has hit some serious resistance at this 1080 area if you look at the latest wedge charts I have on this site, breaking the lower part of the wedge will be the real proof that we have seen the top here.
ReplyDeleteYeah Thanks a bunch
ReplyDeleteSeptember 23 looking absolutely spot on with the S&P hitting 1080 or so.
ReplyDeleteGood job and thanks for your posts and hard work!