Turkey Day Turn?

Posted: November 20th, 2010 under Commodities, Forex, Predictions, Stocks.
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Most markets have a spiral cluster on Thanksgiving which with US markets closed Thursday and only trading a half day on Friday could mean a turn anywhere from Wednesday this week to Monday next week. Stocks usually rally going into holidays but after a sharp decline from the recent highs the direction is rather uncertain and it’s best to play it by ear as the week unfolds.

I recommend clicking on each chart to see the enlarged version as browsers tend to do awful things to shrunken images, such as remove price bars entirely.

Gold – GLD

Spiral Calendar Turn Dates Chart For Gold (GLD) for November 19th, 2010

Spiral Calendar Turn Dates Chart For Gold (GLD) for November 19th, 2010 – click to enlarge

UUP – US Dollar

Spiral Calendar Turn Dates Chart For UUP - US Dollar for November 19th, 2010

Spiral Calendar Turn Dates Chart For UUP – US Dollar for November 19th, 2010 – click to enlarge

Dow

Spiral Calendar Turn Dates Chart For DJIA for November 19th, 2010

Spiral Calendar Turn Dates Chart For Dow Jones Industrial Average for November 19th, 2010 – click to enlarge

S&P 500

Spiral Calendar Turn Dates Chart For S&P 500 for November 19th, 2010

Spiral Calendar Turn Dates Chart For S&P 500 for November 19th, 2010 – click to enlarge

Nasdaq-100

The Nasdaq 100 chart this week is a long term chart showing price is nearing the 2007 high

Spiral Calendar Turn Dates Chart For Nasdaq-100 for November 19th, 2010

Spiral Calendar Turn Dates Chart For Nasdaq-100 for November 19th, 2010 – click to enlarge

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

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2 Comments »

  1. Been following you for some months now, love your work, it’s fascinating stuff.

    When you refer to a B wave, is that an EWT B wave? Thanks!

    Comment by Dave — November 20, 2010 @ 2:33 pm

  2. Yes – any wave reference would be an Elliott Wave wave.
    Seems like we have had five waves down in most markets so we are either in a B wave or a wave 2.
    Some markets have bounced a little, so we may even be in a wave b of 2 situation.

    Dave

    Comment by Admin — November 20, 2010 @ 3:06 pm

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