The Beautiful Thing About Bubbles…
Is Bubbles Are Beautiful Things… For a While…
Posted by mturner on November 4, 2009 under Bull/Bear, Investing, Stock Market Update | 
3 Comments to Read
by Mike Turner
Despite the Fed’s announcement today that the ‘mother-of-all-carry-trades’ can continue indefinitely (see more on this, below), I am wary this market could move lower for at least another week or maybe two.
Below is the current CycleProphet chart on the S&P 500. The model is forecasting a correction (see drop between Circle A and Circle B). The forecast bottom of the current correction has moved up a week from last week’s forecast. This may well mean that the depth of this correction will not be as severe. Based on this updated chart, I am not quite as bearish today as I was a week ago. The S&P 500 could bottom anywhere between where it closed today and roughly 980 (see Circle C). Since the bottom has moved closer to us in the time-line, I would not be surprised if the bottom occurs sooner than 11/16.
Looking further into the future, the cycle data are now forecasting that once the market bottoms in this current correction, the next major market top could be in early February. December and January look to be very volatile.
CycleProphet Update:
For those of you in the CycleProphet beta group… I will be sending out an update next week. I am meeting with the design group this weekend and will have more to tell you after that meeting.
If you are not in this “IPO” (Initial Product Offering) beta group and want to be a part of the design and testing effort, we have not quite reached our 500 limit yet. We will be attending the National AAII meeting next week where I will be presenting the new CycleProphet product concept. There is no doubt that there will be more people wanting to participate in this project than we will have slots available. If you want to be involved, click on the above chart, which will take you to a landing page that describes the product and gives you an opportunity to get in the beta group.
There is no obligation to participate in the group and no obligation to subscribe to the final product. However, only the beta group will be given a 50% discount on an annual subscription when CycleProphet is launched later this year. You do not want to miss out on this innovative financial forecasting tool. Also, as a beta group member, you get to provide our development team with suggestions on the product’s final look-and-feel, what charts should be included, and how the website should be designed. Click Here or click on the chart above to get more details and how to get into the beta group member.
The Turner CrossOver Oscillator (below) data support Read more of this article »
