Folks, the stock market forecast commentary from Mike Korell's ChartsEdge is indicated below. First a few comments of my own. The bull-bear debate and tug-of-war has continued since the S&P 500 made that low retesting the 1040 area. I was looking for a bounce then, but honestly was surprised by how high it went for this long. Each day, watching for signs of slackening and reversal, those signs didn't appear, so the rally continued on. Now it's pushing the limits. Soon we may well see one of two things: a minor, corrective pullback before the bull resumes. Or a deeper correction that might surprise to the downside the way this rally surprised to the upside. Once we see a reversal pattern start, we'll go into the mode of watching for signs of either downside continuation, or a turn back up for the bulls. Fans of Terry Laundry's T Theory (Tm) should already have looked and listen to his technical outlook, addressing the stock market and other financial markets (including insights on real estate and gold), using the links at his site http://www.ttheory.com/. There really are some big-picture big debates about what's coming out of the trading range! Later today I'll post Andre Gratian's Turning Points update that discusses his own views, too, with technical analysis and projections.
So for now, let's turn back to what Mike Korell is generously sharing from his public webpage at http://www.chartsedge.com/wp/
=============
Posts
No comments:
Post a Comment