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Tuesday, October 13, 2009

Stock Market Report for Tomorrow October 13, 2009-- Stock Market Top Analysis

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Stock Market Report for Tomorrow October 13, 2009:

As was written on the Stock Market Report of last Thursday, our stock market timing models issued a warning of a possible end of the latest up leg, and possible beginning of a down leg. We wrote last week that a shift might take place within 15 trading hours. A trading day is 6.5 hours.

We have seen a sharp selloff in today's session, but it was a little bit premature.
Decision day should then be possibly tomorrow October 13, 2009.

Some stock market observations for the end of current session (october 12, 2009):
1. Market has been rising at lower volume, which is not a good sign for a bull leg.
2. Heavy market participants are coming back from holiday tomorrow Tuesday,
3. Tomorrow is the 13th. Superstition traders may take it as a bad sign for bulls.
4. Markets is revisiting the top, if it fails to break out, it can lead to nasty (for the bulls) selloffs.
5. It is the bad month of october (As the saying goes the other months are January, February, ..., December).

Timing models are currently saying it would be a top, and bear leg would start.

Date of October 13, 2009 could be a convenient date because of the number 13 in there.


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2 Comments:

Anonymous tradermichael said...

Do you think S&P500 will reach new highs as some EW guys are predicting?

October 18, 2009 at 5:19 PM  
Anonymous Anonymous said...

The BKX banking index topped one day after your projected high.

Today's (Oct. 21) collapse seems to seal the deal.

Another great call - thanks!

October 21, 2009 at 5:32 PM  

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