Big Changes are Coming in Markets
by Robert McHugh, Ph.D. | July 14, 2008Print
We expect several significant changes to occur in markets over the next week or two. We cover those changes in detail in our expanded 56 page newsletter to subscribers at www.technicalindicatorindex.com , and discuss if those changes will be long-term or simply short-term.
We base our studies of markets on the premise that markets have a language, that they are telling us where they are headed next, so if we can know that language, and listen properly, we can have a huge investing advantage.
Back on January 11th, 2008, 6 months ago, we showed the chart at the top of the next page. It was a Head and Shoulders top pattern, and it predicted a 20 percent crash in the S&P was about to occur, with a downside target of 1,200ish +/-.
Well, here it is, six months later, on July 11th, 2008, and guess what? The S&P 500 hit 1,225.35, only 25 points from its target (which should get hit next week), an amazing 175 points below the 1,401 close on January 11th, when that chart was shown.
We showed a second, different Head & Shoulders top in the S&P 500 on June 20th, targeting a 100 point drop in the S&P. That target was fulfilled only 2 weeks later, Friday, July 11th, 2008. Techncal analysis works.
So now what? We believe there are compelling indicators and patterns suggesting that most major markets are about to see trend changes, starting sooner than many folks realize.
“Jesus said to them, “I am the bread of life; he who comes to Me
shall not hunger, and he who believes in Me shall never thirst.
For I have come down from heaven,
For this is the will of My Father, that everyone who beholds
the Son and believes in Him, may have eternal life;
and I Myself will raise him up on the last day.”
John 6: 35, 38, 40
© 2008 Robert McHugh, Ph.D.