3 replies to this topic

[Trend-Signals]

These are the new targets for QQQQ, Nasdaq, and SPX based on the current price actions, breadth actions, market sentiment, and global market dynamics until market proves otherwise....

Since this is a speculation; therefore, if and when market signals otherwise, I will modify; however, based on my market analysis, breadth, market sentiment, and global market dynamics; it seems that markets are heading to the new targets.

Good luck


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QQQQ Target 57 +/-

Breakout from Jan 2004 to 38% retracement of Mar 2000 118.80 – Oct 2002 19.48 is targeting Qs 57 +/-.

Jul 19, 2007 top 50.66 was the Nov 2006 breakout of Apr 2006 top. Qs reversed from Nov 2006 breakout support of 44.50 +/- which is also 50% retracement of Jul 2006 – Jul 2007 rally. The reversal from 44.50 to anticipated breakout from Jul 2007 50.66 is also projecting 57 +/-.

The target 57 +/- will be completing the breakout from Jan 2004 top in Dec 2004 which was the initial breakout attempt which was succeeded by the second attempt in Nov 2005, followed by a correction in Jun-Jul 2006 which was resulted in a stronger price advancement in larger wave in Nov 2006-Jul 2007 sequential wave pattern.

The Jul 2007 50.66 was Oct 2002-Jan 2004 price extension from Aug 2004; therefore, Oct 2002-Jan 2004 price advancement = Aug 2004 – Jul 2007 price advancement.

The price advance pattern is targeting Qs 57 which is the target of the breakout from Jan 2004.


http://www.stockchar...788217&r=69.png


NASDAQ Target 3131:

Breakout from Jan 2004 to 50% retracement of Mar 2000 5132.52 - Oct 2002 is targeting Nasdaq 3000 +/- which is 50% RT of the correction.

The Jul 2007 top 2724 is 38% RT of the Mar 2000 – Oct 2002 1108.49 correction, and now Nasdaq is bounced off from the Mar 2007 2531.42 top breakout support.

The Jan 2005 break out from Jan 2004 top 2152.12 is failed, however, it again attempted the breakout 2219.91 in Aug 2005. However, it is again failed the second attempt; nevertheless, it formed higher/high price actions which subsequently traded to 2375.45 Apr 2006 top followed by Apr-Jul 2006 correction.

Price actions during Jan 2004 – Apr 2006 is a consolidation period of Feb 2003 – Jan 2004 price actions.

The Jan 2005 breakout attempt which was subsequently succeeded is targeting Nasdaq 3155 +/-. The Jan 2005 breakout attempt is technically consistent with “initial breakout attempt” is usually resolved in actual breakout.

Aug 2007 bottoming process with Mar 2007 low breakout support is consistent with the technical price pattern which a series of breakouts with higher/high price actions targeting 3155 +/- from Jan 2004 breakout.


http://www.stockcharts.com/c-sc/sc?s=$COMPQ&p=M&st=1995-01-01&en=2007-12-31&i=p37991314951&a=88255139&r=659.png

http://www.stockcharts.com/c-sc/sc?s=$COMPQ&p=M&yr=5&mn=6&dy=0&i=p99628106888&a=115744406&r=587.png


SPX Target 1650

Global Economy: SPX Breakout Target 1650

SPX breakout from 1555 is targeting SPX 1650. Breaking out of SPX 1555 in our global economy is reasonable as we are coming off major IT breadth bottom with positive divergence in Aug 2007.

Major Market Cycle Bottoms in Oct 2002. Market has risen 420% since 1975 bottom, 200% since 1982 before it corrected 35% in 1987.

SPX has corrected 50% of 1980-2000 rally during 2000-2002 which is a significant correction.Breaking out of SPX 1555 in our global economy is reasonable as we are coming off major IT breadth bottom with positive divergence in Aug 2007.


http://www.stockcharts.com/c-sc/sc?s=$SPX&p=M&st=1982-01-01&en=2007-12-31&i=p49901538714&a=115646387&r=219.png

http://www.stockcharts.com/c-sc/sc?s=$SPX&p=M&yr=8&mn=6&dy=0&i=p79217076829&a=115792957&r=363.png

[kc135a]

These are the new targets for QQQQ, Nasdaq, and SPX based on the current price actions, breadth actions, market sentiment, and global market dynamics until market proves otherwise....

Since this is a speculation; therefore, if and when market signals otherwise, I will modify; however, based on my market analysis, breadth, market sentiment, and global market dynamics; it seems that markets are heading to the new targets.

Good luck

Hi Sharon

FWIW I have SPX 2100-2250 and DOW 18900-20200 as final targets.

In spite of that, I plan to go fully short tomorrow unless something changes to question the trade.

KC

[Trend-Signals]

These are the new targets for QQQQ, Nasdaq, and SPX based on the current price actions, breadth actions, market sentiment, and global market dynamics until market proves otherwise....

Since this is a speculation; therefore, if and when market signals otherwise, I will modify; however, based on my market analysis, breadth, market sentiment, and global market dynamics; it seems that markets are heading to the new targets.

Good luck

Hi Sharon

FWIW I have SPX 2100-2250 and DOW 18900-20200 as final targets.

In spite of that, I plan to go fully short tomorrow unless something changes to question the trade.

KC

SPX 1650 is the next measured target which is 50% of the full breakout target.

Good trades

[Trend-Signals]

Hi KC, The full measured targets are in agreement with yours. Will see. Good luck