After tracking the sideways correction in March, the final thrust to a new high in May, and successfully using the 50 DMA to determine whether there was one more high coming (which we were agnostic about from a long term standpoint) after the sell into June, we have arrived at the time for frame for the Back Test of the November low to begin. There may be another short term push into the August 7 turn or not; however, what we saw today indicates the move may already be upon us. Here is the DOW chart:
Stock Market Update, Forecast, and Outlook -- Is Everybody In? The Movie is About to Begin
Posted on the 25 July 2013 by Souljester @souljester618
This is a long term forecast update. If you have been following, the long term forecast is playing a back test of the November 2012 low, please review: May 4 Long Term Thesis Update; May 7 Long Term Thesis Update;and May 22 Is a Hard Rain Gonna Fall?; andJune 9, 2012 Link Regarding Long Term Thesis.
After tracking the sideways correction in March, the final thrust to a new high in May, and successfully using the 50 DMA to determine whether there was one more high coming (which we were agnostic about from a long term standpoint) after the sell into June, we have arrived at the time for frame for the Back Test of the November low to begin. There may be another short term push into the August 7 turn or not; however, what we saw today indicates the move may already be upon us. Here is the DOW chart:
After tracking the sideways correction in March, the final thrust to a new high in May, and successfully using the 50 DMA to determine whether there was one more high coming (which we were agnostic about from a long term standpoint) after the sell into June, we have arrived at the time for frame for the Back Test of the November low to begin. There may be another short term push into the August 7 turn or not; however, what we saw today indicates the move may already be upon us. Here is the DOW chart: