timwest

Dow Jones Industrials forecast from Feb 1st (repubublished)

BATS:DIA   SPDR DOW JONES INDUSTRIAL AVERAGE ETF
540 1 1
"2013 FORECAST:
Once again, 20 weeks of time have developed at one price AND the market has climbed above that level (of 129) signaling an advance for the next 20 weeks.
The DIA             has price resistance from old highs and therefore will likely chop sideways for the better part of the year, with sharp sell-offs to keep the short sellers happy and for trendlines to break but without causing any problems.
The market is supported by a bloated bond market and the money that will flow OUT of bonds and into equities over this year. The stock market is RESTRAINED by higher crude oil             prices (see my previous forecasts) and higher tax rates, both on income and capital gains. Weak economic growth also impedes market gains. The heavy cash position of corporations will support the market through stock buybacks and new debt financings, coupled with take-overs and mergers. The side-ways chop I am forecasting is the best way to confuse the most amount of investors and proceed along the path of least resistance, which is sideways to up.
Happy Investing.
Tim West, Feb 1, 2013"
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The current correction is bringing the market back in line with the "muddle along" forecast from the beginning of the year. There is plenty of support just below the current market, but we may get there fast due to the amount of stop orders that have accumulated under current prices. Please see the "S&P EUPHORIA or SPUPHORIA" chart that I have posted a few weeks ago.
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