Short term update

Great call:) perfect hit of the target and retreat.
Lets see if a sell off will begin or consolidation before the next move up. There is higher target ~12380-12400 on Dj and ~1315-1320 for SP500.

The same story with SP500 40 points rise from the second low:)
For now the prediction works perfect but we must cautious and not get too excited. The market is full of surprises:)

Here is the alternation.... the odds are still high for this scenario...

Weekly review / Седмичен преглед

Last week I was expecting a rise to ~1295 SP500 followed by a pullback. But the "pullback" was too deep to be a pullback something else is going on. I think the indexes will move sideways for a while and then the selling will resume. Initial target is ~1220 SP500 but it could easily go lower to ~1175(the next support level). Alternate scenario is selling climax next week.
Scenario moving sideways or slightly higher and resuming of the sell off. DJ support level ~11600 - 38,2% correction of the rally since July 2010.Alternate scenario selling climax.Closer view of the two options shown on the hourly chart of SP500.