Sunday, December 21, 2008

Technical Market Forecast:The DJIA Will Hit between 10,027 - 11,169 by December 31, 2008?

My daily DJIA chart is as of Friday December 19, 2008. It provides a short-term Bullish forecast, and balances the majority gloomy Bearish view.

The chart with my notes and marks indicate a DJIA Ascending Triangle (short-term forecast to DJIA: 10,027.62 - Fibonacci retracement: .312); and a Reverse Head and Shoulders (Intermediate forecast to DJIA: 11,169.41 - Fibonacci retracement: .618). This work is confirmed by the other major market indices: NASDAQ, SP 500, and QQQQ.

The chart is available Free as an Image (.jpg) file upon request to Chartist at:stjamesm@hotmail.com.

Happy Holidays!