Which market . . . which chart . . . which increment . . . which stock . . . which contract month? The point being, they are all uniquely and potentially different. It is like making the cover statement . . . is it going to rain today? Which continent . . . which country . . . which region . . . which area and even which specific acre. This reason people can't comprehend the value of TA, they don't understand the complexity of it.
Hello, Since you weren't specific here is a general rundown: S&P500 (along with the Dow, etc.) - A short move up this coming week (w/e 6-4-10) to around 1129, followed by a very small break south (not quite to the 1065 mark). Then a summer long sideways trend channel from roughly 1100 to 1220, followed by increasing market strength at the end of Q3 2010. A high of around 1265 to 1300 before the end of the year. Euro - A general downtrend with spurts up, with the ultimate bottom around 1.17 (EUR/USD), time frame of bottom sometime around Q3 2010. 1.21 is pretty firm support for the time being. The US$ Index - hanging around and just below the 90 mark, followed by a spike down, and then a gradual decline. Why the spike down? The chinese yuan should undergo revaluation which will balance the weakening Euro against the dollar, and that revaluation will push the dollar index down. Why the gradual decline? The Euro will begin to gain a little bit of ground after coming to parity. WTIC - You have witnessed the recent low of the $64 range for the last time this year. Oil to the mid $80's by the end of the year. Vice President Joe Biden - Will make at least one public gaff around the beginning of Q3. You will not see him on tv for a few months after that. Kansas City - Will not win the World Series. Just an IMO, and this is subject to change as I see fit! JCS