We will do a little prognosticating here: Using the S&P500 as the market metric, we see upward resistance in the 1992-2005 and 2040-2045 regions. If the market rebounds hard against either one of these levels in the next few weeks, it could likely retest the recent lows in the mid-1800s. As AP subscribers read in our August update a few weeks ago, we stated that a floor in the market would be around 1845, and it did indeed close at a low of 1867 last Tuesday, before rebounding. If there is any truly serious economic or political crisis, the basement floor for the S&P would be 1500, but we consider movement down to those levels to be highly unlikely.
We'll revisit these views in a few weeks to grade their accuracy. In the meantime, please consider subscribing to AP in order to receive the September update, due out in approximately ten days. Thank you!
Founder of AP and HCDI, with four decades of financial market study and trading experiences, both good and bad. My aim is to help you benefit from all of those experiences, such that you learn more quickly how 21st century markets and world economies function. As a famous mayor of NYC was fond of saying: "How am I doing?"
(c) 2012-2013 by AdvancedProjections.com and the Hudson Concept Development Institute. All rights reserved. Text and graphics may not be reproduced without the expressed written consent of the Hudson Concept Development Institute.