Stock Market Forecast of 5-31-11 UPDATE

I commence with my gratitude to The All-Knower

I had alerted you, the readers of my blog-site on 05/31/11, when we had huge rally of 1.5+%, that I am not BUYING THIS RALLY, RATHER I AM SELLING IT. I actually said the following, ” I am still of the opinion that markets are exhibiting a false break-out and rather bulls-trap. Markets are creating a possible Head & Shoulder Pattern. Current Markets Actions are the characteristics of the topping pattern, where participants are panicky (whether on an up day or down day), when the markets are trying to find the direction.
I shall NOT change my bearish outlook, until the markets have cleared the current resistance levels.Which I think shall be harder to do so.!!” One of the charts posted with the forecast is posted here again.

Almost all markets closed on their lows of the week on Friday 06-03-11. Since my forecast of 05-31-11,

DJI has lost … 465 points, NASDAQ has lost 105 points

NYSE has lost 297 points, and SPX has lost ….. 47 points.

All markets tumbling at least 3.50% from the high on 05/31/11, the day of my forecast. I hope some of you heeded to my forecast 🙂

THE MOST ACCURATE FORECASTING OF FINANCIAL MARKETS

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Stock Market Forecast of 5-31-11 UPDATE

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