Stock Market Forecast 5-7-12

Market Forecast 05-07-12

I commence with my gratitude to The Creator

On May 2, 2012 early morning, right after when DJI had logged in the highest prices in the 4 years history of the stock markets, I forewarned you and said, ”
I am expecting another correction soon, even as soon as 05/02″.  I supported my argument and said that, ” 
Dow Jones Industrials have claimed the highest price in the 4 years on May 01. However, other indices showed weakness and thus closed much lower than price set on 04/02 highs. For example S&P-500 even made an inverted hammer, which after confirmation could result into more selling thereafter.“

I even posted this attached chart, showing the down target of 1,369 for SPX, which has already been achieved..

Stock markets experienced a gap, on Monday. This gap was NOT an ordinary gap. It was a break away gap.  It is a Precursor of a new trend, which is downward. Breakaway gap candlestick was a Marubuzu, which reflects that markets is really weak and sellers have taken over the markets. By looking at the NASDAQ chart, it shows the underlying weakness of the stock markets It is the index,which lead the recent 3 1/2 months rally starting from mid-December 2011. First support for NASDAQ lies at 2,875 area, then below that support is at 2,812, and 2,760

THE MOST ACCURATE FORECASTING OF FINANCIAL MARKETS

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