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S&P 500 / STI Charts for 2009?

How will the S&P 500 and STI Charts for 2009 look like?


S&P 500 Chart 2009:

1. From Jan 1989 to Oct 2007 (275 to 1576), the 50% Fibonacci support at 910 had been broken and now become resistance.
2. S&P 500 likely to rebound in next 2 months. If break above 910, then likely to test the 38.2% Fibonacci resistance at 1058.
3. After which, the market is likely to form a small knoll and continue its fall.


STI Chart 2009:

1. STI will most likely follow suite, form a knoll before continuing its free-fall again.
2. If break above 61.8% Fibonacci resistance at 1970, then likely to test 50% Fibonacci resistance level (2350).
3. A head-and-shoulder pattern could be on the cards.

(Above are key points from article written by Xavier Lim in Share Investments Guide, December 19, 2008)

I agree with this Big Picture Chart since it is in sync with my Stock Market Forecast 2009 – Yin Earth Ox!


How would the Charts look like from now to First Quarter 2009? Lookout for my future articles!


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