Near A Short Term Low In Stocks 7/2/2010?

Posted: July 3rd, 2010 under Predictions, Stocks.

Spiral

Spiral Calendar Daily Score Chart For Nasdaq-100 for July 2nd, 2010 – click to enlarge

Many stock charts are showing a spiral cluster this weekend, one trading day after July 2nd indicated by the vertical green bar immediately to the right of the price data on the chart. The next ten tradings days are shown, but there is only the above cluster. Since these spiral calendar charts take no account of weekends or holidays this could mean an immediate rally on Tuesday – possibly after Asian and European markets have made a low on Monday, or we could make a low in US markets on Tuesday July 6th. This might correspond with a minute wave 1 of minor wave 3 low that is one possible Elliott Wave count. Even if this count is correct, trading it may not be worthwhile given the risk of missing the large downside potential possible in wave 3 of 3 down.

To check this the red and blue vertical lines show the spiral calendar intervals going back in time from July 2nd , 2010. Several align quite well with prior highs and lows, indicating a turn is likely here.

New visitors: please see this post for a brief explanation of the spiral calendar.

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