Análise do TradersClassroom

TRADERSCLASSROOM.COM by Alan R. Northam

http://www.tradersclassroom.com

2009 FORECAST ISSUE – The following forecast is how I see 2009 shaping up.

December, 2009 update

The overall trend in the stock market as measured by the NASDAQ remains in a bear market. However since March the NASDAQ has been correcting for its losses from the October 2007 high. This corrective rally, in Elliott wave terminology, is called corrective wave 2 circle. Wave 2 circle market corrections are typically deep retracements. I have therefore shown the wave 2 circle corrective wave to end at the 61.8% Fibonacci retracement level. However keep in mind that the only requirement is that wave 2 Circle cannot retrace more than 100% of wave 1 circle.

As can be seen by the chart the NASDAQ continues to slowly roll over as it transitions from an upward trend to a downward trend. Notice also that the NASDAQ remains just below our target price level of 3351.84 which represents the 61.8% retracement level of wave 1 circle down.

Looking at OBV notice that it peaked in September much closer to our forecast- ed price peak.

I will be doing a year end wrap up for the 2009 Forecast Issue which will complete this series of forecast for how I see 2009 shaping up and will be unvailing my 2010 Forecast on January 1st.