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The No 1 Gold Stock for 2019

Has the Stock Market Topped?

Stock-Markets / Stock Markets 2012 Apr 08, 2012 - 04:07 PM GMT

By: Marc_Horn

Stock-Markets

Best Financial Markets Analysis ArticleThe current MAP wave count on the S&P 500, 4H-1 of D-1 of W-1 of M-3, indicates we are at the point of a major correction which would be confirmed with a break below 1391.




Currently prices are well above the latest monthly pivot trend channel (bold gold upper line) as well as its weekly trend channel (upper red bold line). It is still within its daily trading channel (purple channel).



By failing to pierce either the orange or red dashed lines, which would have been the expected turning point targets, there may be possibly be one further high. However this is extremely unlikely, as there is a clear 5 wave count into this top, and a break below the bottom purple rail would very much confirm this as a multi-year high that will not be seen again for many years to come!



Where to from here? We could be at pivot 4H-1, which would be confirmed by a move on Monday to the upper blue rail to 4H-2, before prices work their way down to the lower bold blue trend line (4H-3) over the next week. Alternatively if this is pivot H-1 the move to the upper blue rail would be pivot H-2 and the turn on the lower blue rail would be 4H-1.

For more information of how I do what I do http://mapportunity.wordpress.com/ . Comments and discussions very welcome!

The statements, opinions and analyses presented in this site are provided as educational and general information only. Opinions, estimates, buy and sell signals, and probabilities expressed herein constitute the judgment of the author as of the date indicated and are subject to change without notice.

Nothing contained in this site is intended to be, nor shall it be construed as, investment advice, nor is it to be relied upon in making any investment or other decision.

Prior to making any investment decision, you are advised to consult with your broker, investment advisor or other appropriate tax or financial professional to determine the suitability of any investment.

© 2012 Copyright Marc Horn - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


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