Another fascinating set of forecast comments from Mike Korell at his ChartsEdge maps webpage, http://www.chartsedge.com/wp/
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Quarterly Perspective
Posted: July 6th, 2010 | Author: Mike Korell | Filed under: One-Day Market Map | No Comments »Not all my divination concerns the immediate future of the market. Trading in different time frames is just another way to insulate a portfolio from risk.
So what's the cycle outlook for the SPX?
Third quarter closes higher after spending most of that time oscillating in the 1050-1150 range.
Fourth quarter makes a stab at 800, but a Santa Claus rally adds 100 or so points into the end of the year.
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