24th November 2001 - Dow Jones Industrial
Average ( DJIA ) Outlook
Taking a number of larger time frames into account, there is a clustering
around the 14th of December. There is also one major time frame
which gives the 10th of December, which is also 90 degrees from the
Sept 11th attack. Monday the 17th December is 90 degrees from
the Sept 17th restart and December 19th is 90 degrees from
the Sept 21st major low. As can be seen when looking at time, mid
December has a considerable amount of action due. |
24th November 2001 - Standard and Poors
500 ( S&P 500 ) Outlook
Taking a number of larger time frames into account, there is a clustering
around the 17th of December and the 19th December. The
10th December COT date also holds ( as it does for all markets ) as
90 deg from Sept 11 attack. |
24th November 2001 - NASDAQ Outlook
Taking a number of intermediate time frames into account, there is
a clustering around the 8th December and 10th December.
As noted previously, the 10th December is 90 Deg from the Sept 11th
attack. |
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Summary for Week Ending 7th Dec 2001
DJIA See
Chart
Market action following Monday's Low was impressive with the weekly range
of 568 points topping out on Thursday (See
Week Ending 9th Nov). The presumed COT for Friday did not
give up the High for the week, but may be signaling for a turnaround on
Monday. We just have to wait and see.
This weeks chart shows the Price Retracements form the 21st May High,
how the market has blasted through all the major lines so far. Also highlighted
on this weeks chart is is the parallel channel, which appears to be what
managed to stop the DJIA this week. Of importance also, is that the same
pattern appears for both the NASDAQ and the SP500, which technically is
a rare event, as most markets generally move to the beat of their own
drum . If we are looking to be consistent, then Thursday would be the
day to expect a COT, however the Friday is forecast, with the 90 deg from
Sept 11th also making its appearance this week. That gives us three out
of 5 days, not much of a forecast I hear everyone say. Well.... I agree
and there's nothing I can do about it. Personally, I'm most interested
in the 90 deg from Sept 11th.
S&P 500 See
Chart
As mentioned last week, we were awaiting the market to get to the 1171 range
to see how it would perform against the raft of resistance lines that were
indicated.(See
Nov 23rd).
Averaging all the points of resistance we come very close to the Actual
High of 1173 which occurred on Wednesday. Also, the market managed to hit
a parallel trend line similar to the one that stopped on the Dow on Thursday.
Technically, the run up on Wednesday gave the appearance it had to be somewhere
in a great hurry, and that's exactly what it did. Runs of this nature is
always best to look at volume and other supporting factors to see if swift
movements like this one can be sustained in the short term. Following this
weeks excitement, we can look forward this week to the 90 Deg from Sept
11th COT, with the longer forecasted COT dates not arriving till the following
week.
NASDAQ See
Chart
Similar to the previous two reports, we saw the NASDAQ hit the parallel
channel and stop for a bit. The run up from Mondays weekly low was impressive,
to reach the High for the week of 2066 on Thursday and finally cross over
the psychological 2000 point barrier for the first time since the falls
in August.
This weeks chart shows the original forecast Time frames highlighted, al
of which are coming in between the 8th and 11th of December. The 90 deg
from Sept 11th date is the one to watch this week. |
