About 5 months ago (October 30th, 2013 ), I offered a moderate probability target at 5786.81. As of this this month, target got hit dead-on.
More recently, I added a lesser probability target, based on momental line/channel supports and predictive analysis result.
Now that the market has rolled down from the primary target, there is serious concern as to its ability to persevere to the higher, last target.
Once sufficient data comes in, I will provide the result of any target. For the time being, some unwinding needs to take place, as I expect a consolidation period would occur at these significant levels. For these reasons, I will switch the directional indicator from LONG to NEUTRAL. My own directional bias is neutral to , based on fundamental and technical concerns discussed relative to the US Dollar index and the risk-related USDJPY:
- USDollar Index:
Predictive Analysis and Forecasting
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- All my comments are founded on unshared proprietary as well as common knowledge of technical analysis: Do your own due diligence before trading any market/asset. Additionally, my signals, forecasts, analyses and directional opinions are for educational purposes only and are not trading recommendations. Again, do your own due diligence first, then seek financial advice from a licensed professional, and only then enter the market at your own perils - David Alcindor - TradingView.com Alias: 4xForecaster
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Last month, the primary target, namely "TG-1 = 5786.81 - 30 OCT 2013", finally got hit dead on.
As of today, price as receded somewhat, adding further validity to this target and credence to the predictive/forecasting model, which had defined that target on October 30th, 2013 - Yes, some shameless self-padding is in order.
At this point, a bullish advance beyond this level remains in doubt, and the fundamental environment is lending a heavy hand against this probability as well.
Feel free to peruse through related charts, where I have offered long-term targets, albeit quite abysmal. But again, this is using the predictive/forecasting model which defined this hit this TG-1.
Here are other references for your review:
1 - $COMP Weeky chart:
"Collapsing On June 06th?
2 - $COMP Weekly:
"Another 275 Days Of Ramped Up Rally Ending Next Month?"
3 - $COMP Weekly Chart:
"TG-1 = 5786.81 - 30 OCT 2013"
Predictive Analysis & Forecasting