Tag: David BanisterSort
SP 500 Update.... U.S. Markets wear the Heavy Crown
This is somewhat of a things that make you go hmmmmmm exercise, but lets examine this 1356 number for a second here. The SP 500 hit 1356 today and put on the brakes and reversed down to 1341 in a possible terminal top move.
1356 actually has fibonacci relationships. If we take the last major rally which was from the Summer 2010 lows:
1010-1370 (May 2011 highs)
Market Looks Poised to Reverse Hard to Downside Within Days
The market has been in the process of a near 13 Fibonacci week corrective rally since the October 4th 2011 lows at 1074 on the SP 500. So far the highs reached on the initial rally of 218 points were in October at 1292. That has remained the high water mark as we have consolidated over the last many weeks.
Gold’s 4th Wave Consolidation Nears Completion and Breakout
Back in August with Gold running to parabolic wave 3 sentiment induced highs, I warned of a major top and multi month correction. We all know that the fundamentals for the shiny metal are stronger than ever, but you must keep in mind that the market prices all that in well l in advance.
The Final Market Rally up Before The Big Leg Down is Near an End
Back on October 3rd, I penned a public article forecasting a major low in the SP 500 to occur around 1088. The SP 500 had been declining from the 1370 highs this May and was in the 1130’s and nearing its final descent in a corrective pattern. The next day, the market bottomed intra-day at 1074 and closed north of 1100.
It’s been several weeks since I’ve written about Gold and we have had a wild ride since the 1910-1920 highs in August. At the time as we approached I forecasted a major correction was nigh and we were shorting the rise from 1862-1910 prior to a huge $208 drop that took place over just a few days.
SP500 Poised For A Sharp Pullback Near Term says Dr. Copper
Back on October 3rd I wrote a public article forecasting a major market bottom at around 1088 on the SP 500 index. I surmised we were about to complete a 5 wave move to the downside that commenced with the Bin Laden highs of 1370 in early May of this year. The following day we bottomed at 1074 intraday and closed over my 1088 pivot and continued higher as we all know.