Financial Market Time Cycles Update 3-23-11

I commence with my gratitude to The All-Knower

Thanks to My Creator’s Blessings, after my forecasted alert issued on Friday for “Bottom Confirmed”, markets have rallied strongly. They have been exhibiting healthy patterns of absorbing selling pressure, and reversed today from the low and rallied strongly on stronger volume.

All indices have shown their relative strengths and reached, rather, recovered certain technical benchmarks. DJI and Russell 2000 (for broader US stock markets) reversed after trading below 50-days MA and 21-days MA and closed above both important resistances. NASDAQ-100 did accomplish something similar and recovered 100-days MA and closed above. All that, with higher than usual volume. Therefore, markets are ready to test the recent highs.