OT- thought I was on the GPM thread : ) Gold is good long term, but I can't say that I've made 10,000% on my gold (yet) like Broadcom.
Here's a good commentary on the SP 500 from Steven J. Williams (mind you he is bearish) Be sure and go to his site to see the graphs.
Scenario I is our most preferred count. Fundamentally, this count may mean a lower-low on Friday and retracement rally's on Monday and Tuesday before any announcement from the FOMC meeting. Then, if the Fed raises interests rates higher than 1/4%, the shock and market reaction becomes the (red) waves 3,4,5 down to SPX 1250 to complete the pattern.
Scenario II is similar to the Scenario I except that it is much more bearish with Friday having a very strong selloff of perhaps SPX -40 points (DJIA -300).
Scenario III will eventually trade down to SPX 1260 area, but only after being postponed for one to two weeks. The only fundamental backing for this scenario would be if the Fed raises rates only 1/4% and since the market already expects this, the rally continues onward to make the higher-high at "e". Later, another non-FOMC event shocks the market into another nosedive... perhaps a cluster of corporate earnings warnings.
In all three scenarios presented above, the larger CyclePro forecast remains with the 1929 correlation which is a 2-month blowoff rally that carries the markets 15-20% higher, ie: SPX 1400 and DJIA 12000.
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