TURN CALL UPDATE
Here is a summary of the recent turn calls and their result.
CALLER- DATE- RESULT- ACCURACY RATE- NEXT CALL
Bradley- 1/10 high - turned lower 1/13 1/17 high - pending - score 12/15 - next call 2/6 low
Velociraptor - 1/7 high- pending - score 15/20 - next call 1/27 low
Favors - 1/13 high - turned lower that day - 1/15 low - turned lower on 1/15 - score 12/14 - next call 1/23 high
Hahn - 2/14-17 - pending - score 6/11*
GUIDELINES:
All calls are made on the Dow unless otherwise specified.
The allowable margin of error on daily calls is plus/minus one day.
OTHER TIMING NOTES:
Paul Shread notes some fib dates: January 21-22 will be 13 days off the 12/31 low and 34 days off the 12/2 high. Favors notes a trend change date of 1/21
*Last weekend my source on Hahn advised me of his latest, and it appears that Hahn correctly called the 1/15 turn. I gave him credit for a correct call even though I did not post his call last Friday.
Hahn said "in summary, January 14/15 is an important inflection point followed by the 2/14-18 projection. A low into 1/15 will mean that the rally has another chance to trade up. A high would make the market maximum overbought on a daily and weekly basis, and probably be the start of a good sized correction. I'm not too focused on what happens in Monday's opening session. What's more important is where the markets are at into the Tuesday 1/14 close to 1/15 open, time frame. It looks like this is going to be a major inflection point."
As to his upcoming call for February he says "The corrective wave from 12/2 to 12/31 projects to Friday, February 14th on the close, up to plus one hour. *The markets will be closed on Monday, the 17th of February, for President's Day. That makes the plus one hour window, fall on the first hour of trading on Tuesday, the 18th. That is not likely. Expect the news event that precipitates this inflection point to happen on Saturday, the 16th. This is important time. It's possible that the markets will trade up into 2/14. However, if a near term rally is strong, it will be maximum overbought within a couple of weeks. If you are playing the long side, be aware that the window of time is about three to six weeks."
Here are Hahn's "Repeated Comments": "There was triple time on the SPY, DIA and NYA, projecting to 12/30 or 31st. This should mark the start of a new leg. Since the indices have corrected into time, a reversal (rally) is most likely. The 12/02 high of the recent correction to the low of 12/31/02 was 21 days (fibonacci number), which projects to Friday 2/14 plus one hour. The markets are closed on Monday the 17th, for Presidents Day. This means that sometime between the close of 2/14 to the open of 2/18, something will happen to reverse the market. If we trade up into that projection, I would cover or hedge any long positions going into the three day weekend. I am not assuming that we will trade in one direction up to 2/14. That is a possibility, but another wave could unfold in the meantime and affect the trend sooner." |
