Stock Markets Update 05-02-12

I commence with my gratitude to The Creator

Stock Market Forecast 5-2-12

I received complaint that last post was not published in time.. That was quite possible, as I have created a draft to be posted before I went on the Spiritual Retreat, and left it upon someone to publish it in time. That is why it is quite possible that it was published in time, although, it was time stamped before the date of publishing.

Let’s have a look at the Markets found some smaller resistance on 04/30 and on 05/01, went higher then previous days’ resistance. Nevertheless, Markets’ Indices are showing an interesting tale.

Stock Market Forecast 5-2-12 NASDAQ chart

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 would result into more selling thereafter. It is all happening within the time frame of time cycle for CIT, reversal. Therefore, markets could fail here. S&P may come down to test the 1,380 or even 1,369 level and NASDAQ chart is even weaker than all other indices. NASAQ 100 could test the 2.640-2,650 area once again. Remember this is the one, which lead the market to these high levels. Markets leaders like AAPL, GOOG, BIDU, PCLN are NOT showing the strength as shown in DJI, rather their weakness is reflected into the S&P and NASDAQ charts.

Thus, I am expecting another correction soon, even as soon as 05/02

THE MOST ACCURATE FORECASTING OF FINANCIAL MARKETS

http://trade-in-harmony.blogspot.com/