I commence with my gratitude to The Ultimate Knower
Market did receive the correction, which I was waiting (in either case scenario of bullish or previous bearish stand, and it also came after the time cycle of 07/08/11). US Stock Markets dropped and (looking at Standard & Poors 500) stopped today and closed exactly at the predicted level of 1,322 (+/-3) (which also coincides with 38.2% pullback and level rests at 50 and 100 MA’s. It came down to test the support of this price level. Which ought to act as strong support. Violation of this level shall lead the index 12 points down to a solid support (which happens to be 50% retracement of the recent rally) of 1,307 (+/-) level. Which (or current, in the event of the market starts rallying from tomorrow, which is likely, also) shall create a very good buy point to enter long.
7/12 is a Cycle turn date, if doesn’t create a change in the trend, then markets shall get into serious trouble.
http://trade-in-harmony.blogspot.com/
Dear Mr. Syed,
Thank you for your forecasting and alert!
About the turn date, for the asian markets, is 7/13 the turn?
Hello Mr.Syed,
You previously mentioned the A-B-C correction.. Does the length of the first wave down (A) = C? It seems we may have finished wave B up and wave C down is starting.
Your thoughts? And thank you for this valuable information.
Patrick.
It should be same for all..
Yes, It is true for all markets.
Remain Blessed
Actually ABC wave on hourly chart, finished today, I was referring to the hourly ABC correction, which had made A and B portion on 07/18
Thanks for your response Mr.Syed.
Since the markets closed lower, are you forecasting a big drop till the next cycle turn date? Any targets sir?
Patrick.
Yes, Patrick,
If the markets continue the decline, the bottom shall be around the next time cycle.
More details stay tune for the post tonight.
Remain blessed
Dear Mr. Syed, thanks!
We will watch out the upcoming decline.
Thanks Mr. Syed,
Looking forward to your insights.
Patrick.