My predicted S&P 500 1050 target has been reached today. Here is the link to the initial post to warn my friends this coming correction.
Here is another important post, with regard to my first correction target: S&P 500 1050.
Ok. Now, since my predicted S&P 500 1050 target has been reached today ? What's next for Mr. Market ?
Here is a list of my thoughts to share with you:
- The rebound from 1050 is pretty weak, indicating this correction may continue for a while
- My expected next target is 1020, ideally, I hope S&P 500 can drop to below 1000
- Any rebound back to 1060 level will meet great resistance, so it is a good point to short the market again around there.
- 1070, as pointed out before, is another point to watch since a control back of 1070 by the bulls will tell us that the correction is completed.
- So far, I have not seen any reversal signs for this market correction, but I will monitor it closely, so that we can reverse our trading positions as well
Enjoy !
thx, tiger, can we safely say sp 11xx is out the window till year end? --bokchoy
ReplyDeletebokchoy, it's hard to tell now. We still have two Months left until the end of the year. Who knows what mad behavior Mr. market will show ? We just need to follow it. One thing is for sure, in my own opinion, I think 1101 is not the real top. I still keep my brave forcasts in September valid to date.
ReplyDeleteBelow is the link for it:
http://tjts.blogspot.com/2009/09/my-current-us-stock-market-view-and.html
Tiger
hey fortune cookie...the top is in
ReplyDelete