Stock-Market-Observations

• WHAT’S HAPPENING?

The overall trend in the market is down for the next several weeks/months.  That will remain my view until otherwise stated in the category “SELL/BUY ACTION UPDATE”.

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Today I updated chart #40.5 (page 4).  It has an upside price projection to approximately 1406 SP 500.

04-12-12 UPSIDE PRICE PROJECTION

Also chart #40.8 has a downside price projection of approximately 1319 SP 500.

04-12-12 DOWNSIDE PRICE PROJECTION

If both of these projections are correct and my bearish scenario is taking place, we should rally up to the 1406 area and then decline to approximately 1319.  Both price projections don’t preclude the possibility of an advance or decline past the price targets.

Chart #40.9 doesn’t have a price projection but if the market declines into the 1319 area, we should get another projection to approximately 1295 SP 500.

There is no easily explainable time frame for these projections but they should be fulfilled well before the date of the peak or bottom associated with the projection drops off the left side of the referenced chart.

Sometimes these projections work out quite nicely while other times, they fail completely.  It’s just something to be mindful of as we approach the target areas.

In practice, I would never execute a trade based solely on these projections

MY CHARTS   This is the link to my charts on StockCharts.  Vote below and tell me how I should arrange the charts on page 1.

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This entry was posted on April 12, 2012 at 3:19 PM and is filed under UPDATE. You can subscribe via RSS 2.0 feed to this post's comments. You can comment below, or link to this permanent URL from your own site.