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Mounting Pressure For A Big Move In Stocks

Mounting Pressure For A Big Move In Stocks
 

A number of different time counts specific to the S&P end up between 11/12/13 and 11/14/13.  The recent tops of 10/30/13 at 1773.25 and 11/07/13 at 1774.50 are very close to my projected price target of 1778.00.

The market’s current price of 1765.00 is very close to where the market closed on Oct. 30, at 1760.25. Essentially the market has channeled sideways from the end of October through the present. I’ve observed that once a market arrives at a time marker as it did on October 30, if it doesn’t immediately reverse, but instead consolidates, approximately 62% of the time it breaks out in the direction it was moving prior to the consolidation.

Above 1778.00, the next level of resistance I project is 1826.00, and above that 1894.00.

Certain folding symmetries I use in my analysis, along with allowing for a possible end of year “Christmas Rally”, suggest a directional preferred bias, for higher prices to be reached. An extension of the bull market could persist into the first quarter of 2014.  February 4, 2014 and March 18, 2014 are two dates, I’ve already projected which might correspond to more significant tops.

 

 

 

 

 

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