Stock Markets Analysis and Forecast 8-4-11
Stock Markets are dropping like rock, and sentiment is already very bearish and would be extremely bearish by Friday close of the day. Is that the end of the bull market and would the markets would continue to fall?
Again, we have to look at the precedents from the history. I have placed a 450 day or 90 weeks moving average on the chart. This moving average is actually the “line in the sand” beside other indicators, I use it, to determine the long term trend of the stock markets. This support is sitting exactly at 1,190-1,195 area and it coincides with the 50% retracement level from the July 2010 low to May 2011 high and also at 25% pullback level from March 09 low to the recent highs. Similar support for NASDAQ Composite lies nearby at 2,530 area and for DJ-30 at 11,260 area. Market must find its support here by Friday or Monday.
Failure to hold this level, shall trigger a even bigger sell-off, that shall continue int the end of the year or potentially into the next year.
Australian Dollar Pair AUD/USD Analysis, and Forecast 7-27-11…
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