In my last outlook blog for the Dow Jones Industrial Average Index, Dow Outlook 081111 - Hopes of a Climb Back to Health Fading, I stated that: -
"The Medium Term Outlook for a "steady, well behaved, Climb Back to Health" Scenario is fast fading away, into a more sober, continued volatile, and difficult trading conditions of the 1948, 1969 Medium Term Correction Wave Scenario. This is the most consistent outlook with the Short Term Sideways Consolidation, and Long Term Bearish Outlooks, based on the price pattern movements today."
For the Other Stock Market Indices Outlook, S&P500, Nasdaq, Russell 2000 Outlook 081111 - Bearish Except for S&P500, I stated that: -
"The S&P 500 has the same outlook as the Dow, i.e. Short Term Sideways Consolidation, Long Term Bearish whilst Medium Term Hopes of a "Climb Back to Health" Scenario is fading.
We would trade the Nasdaq 100 and the Russell 2000 only on a Short Position Strategy, with a Stop Loss just above the latest Pivot High. If our Continued Downtrend Outlook for Nasdaq 100 and Russell 2000 is right, the Indices should not break above this Pivot High."
A week later, with the exception of the Dow (DJIA), ALL the k
ey US Stock Market Indices, i.e. S&P500, Nasdaq 100, Russell 2000, have broken their Key Support Level set in last month's October Crash. The Dow is set to re-test its Key Support Level of 7882 as well, as it has closed at 7997.
With the high possibility of Margin Calls pressurizing the Dow, it doesn't look like this Key Support will hold, at least from an Intra-Day perspective.
Thus, our Dow Outlook for all durations, i.e. Short Term, Medium Term, and Long Term, is Bearish. It is possible that there will be persistent wild fluctuations up and down, but the odds of success is on a Short Strategy, for the foreseeable future, pending new price inf
ormation.
Please be reminded on the Liability Exclusion Clause, which is at the top of my blog page, i.e. that the final trading decision is yours, and I will not be responsible or liable for any losses you may incur from whatsoever reason. :)
Best wishes,
Ooi
© Copyright of Praesciens.blogspot.com, 2008
"The Medium Term Outlook for a "steady, well behaved, Climb Back to Health" Scenario is fast fading away, into a more sober, continued volatile, and difficult trading conditions of the 1948, 1969 Medium Term Correction Wave Scenario. This is the most consistent outlook with the Short Term Sideways Consolidation, and Long Term Bearish Outlooks, based on the price pattern movements today."
For the Other Stock Market Indices Outlook, S&P500, Nasdaq, Russell 2000 Outlook 081111 - Bearish Except for S&P500, I stated that: -
"The S&P 500 has the same outlook as the Dow, i.e. Short Term Sideways Consolidation, Long Term Bearish whilst Medium Term Hopes of a "Climb Back to Health" Scenario is fading.
We would trade the Nasdaq 100 and the Russell 2000 only on a Short Position Strategy, with a Stop Loss just above the latest Pivot High. If our Continued Downtrend Outlook for Nasdaq 100 and Russell 2000 is right, the Indices should not break above this Pivot High."
A week later, with the exception of the Dow (DJIA), ALL the k
ey US Stock Market Indices, i.e. S&P500, Nasdaq 100, Russell 2000, have broken their Key Support Level set in last month's October Crash. The Dow is set to re-test its Key Support Level of 7882 as well, as it has closed at 7997.With the high possibility of Margin Calls pressurizing the Dow, it doesn't look like this Key Support will hold, at least from an Intra-Day perspective.
Thus, our Dow Outlook for all durations, i.e. Short Term, Medium Term, and Long Term, is Bearish. It is possible that there will be persistent wild fluctuations up and down, but the odds of success is on a Short Strategy, for the foreseeable future, pending new price inf
ormation.Please be reminded on the Liability Exclusion Clause, which is at the top of my blog page, i.e. that the final trading decision is yours, and I will not be responsible or liable for any losses you may incur from whatsoever reason. :)
Best wishes,
Ooi
© Copyright of Praesciens.blogspot.com, 2008
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