Monday, November 23, 2009

November 23 Weekly Update - Stock Market Forecast

November 23 Weekly Update - Stock Market Forecast

Fengshui: Market unlikely to do well Nov 23 & 24, likely to pickup Nov 25 onwards.

Financial Astrology: Dow might reverse if it can find support at 10,000.

Technical Analysis: US indices – Phase 3 down might have started on November 17 if markets continue to drop this week. If markets reverse up, a possibility that final Wave 5 up is not completed. A potential Head and Shoulder pattern forming in the 5-minute charts, a break below the neckline gives a downside target of 10,000.

US Markets: A very heavy schedule of important potential market-moving economic reports: Nov 24: Q3 GDP revision, consumer confidence, FOMC minutes release; Nov 25: Jobless claims

Nov 26: US Holiday

Nov 27: Singapore Holiday

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