Good afternoon,
I was pleased that my prediction for the DJIA to hit 12,733 was reached within 2 days of my target date, im not including MLK day as I forgot to factor it in with my original timing, though the overall effect is pretty on spot I think.
That being said the market has obviously moved past the point which I had anticipated it would, though not by very much. This 5 wave sequence should theoretically have a limit at 12,832.83, which is the starting price level of the motive wave, which began this past April. If the current price level moves past that point in a substantive way, I would have to cast the structure of this wave count aside.
What I think is more likely at this point and, assuming that the fractal rule is in fact true, is that the market is, through this bullish c wave, developing a double peak within both the minor and primary scales.
From a socionomic viewpoint, aggregate social mood is most certainly depicting a major upcoming negative trend. The occupy wall street protests which fermented during the bear market of last August, came to a point in mid October and then faded from the public eye when the DJIA was just beginning the upward movement of this c wave of minor degree. As we have, I believe come to the end of that correction, the occupy protests have popped up, seemingly out of the ether in Oakland, where police and protesters clashed in a serious way for the first time since October. The trend in music seems to also be giving some clues. The songs "Sexy and I know it" by lmfao and "Good Feeling" by Flo Rida, while holding strong positions in the music charts throughout January as the market was moving up, have this week started, if only slightly to loose their steam, while the more down-beat and seriously themed "Set Fire to the Rain" by Adele moved into first place about a week and a half before the DJIA's peak, and has remained at least so far, in the number one spot. I think this may indicate a coming shift in social mood that will be reflected by a negative DJIA average. This has, to date, already occurred to some extent in minute degree.
My outlook for the next few weeks is still negative. I am looking for the DJIA to break the key level in the next few weeks which is set around 11.700.
No comments:
Post a Comment