10 points away from the predicted target

10 points away from the predicted target, still, will S&P 500 hit 1050 as predicted last week this time ?

Things are still going  well with this correction.  No signs for the end of the correction yet.  Mr. Market may get  rebounded back from 50MA (~ 1050), but who knows if it can last ? and for how long ? To have a clue on these questions: we need to observe Mr. Market the following behavior:
  • If Mr. Market  touches 1050
  • What Mr. Market is doing then after the touching
That's it, until then you can judge Mr. Market's next step. Otherwise, the error bar is big.

at 10/27/2009 07:01:00 PM

2 comments:

  1. AnonymousOctober 27, 2009 at 8:01 PM

    thx, tiger, as the er season winding down, my guess is more to the downside then up. Of course, as they say, there are lots of side line $ waiting to get in. Let the mrkt show us .

    --bokchoy

    ReplyDelete
  2. TigerOctober 27, 2009 at 8:58 PM

    bokchoy,you are welcome.

    Yes. I agree there are lots of side line $ waiting to get in.

    But, unless bulls can get back 1070,and hold above it well, I don't see any signs for the end of this correction. Let's see if 50MA can rebound Mr. Market first this week.

    It's so exciting to see Mr. Market always dynamically evolves and we can understand its dynamics, at least to some degree using my stock price development model.

    Tiger

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