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Stock Market Top Near?

1/11/11 -- Update from our stock market analyst who follows the Elliott Wave side of things, in addition to more traditional methods:

The markets should be at a top right now with one more 5th of a 5th wave up to go. This will complete Wave 2 (Circle) up. The up move should be complete by this Wednesday to Friday (January 12th to 14th). The market should go back up to around 11,750 to 11,775 (DJIA), and 1,280 to 1,291 (S&P 500). Therefore, next week, the volatility should begin to pick up and the major down move is likely to begin.

The beginning of the major down move will be confirmed when the DJIA drops below 11,575, 1,262 (S&P 500) and 2,676 (NASDAQ). Then watch out below.

This is a hobby and not financial advice or perhaps not even sound reasoning. Do your home stock market analysis and homework...

Stock Market Predcition Now and Into 2011 - DOW one last high?

Near Term Stock Market Analysis of the DOW
and Prediction for Stocks in 2011

New highs for stock indexes in early 2011 and then a major correction downward. But first a dip... Or will the USD gain traction and lead us down straight from here?

Nov. 8, 2010
Here we see a stock market prediction from a trader who uses not only Elliott Wave analysis, but also other more traditional market and trading indicators. Description from him below and here is the interesting chart, published with permission:

Click here for larger 2011 Stock Prediction Chart.

A major multi-year stock market cycle is holding prices up in the near term until the cycle peaks in early 2011, then the market will be caught in a multi-year down draft.

Primary probably has the market topping in the next week, then a quick drop as low as 10,500 (Dow). However, the drop might be small. Then market reverses up to a new near term high topping in 3 to 5 months (11,500 to 12,500). NASDAQ will go to 3,000 area. Then a major reversal to major new lows well below 6,517 (Dow).

Alternate probably has the market making a new top in about a week, then reversing down for the next major down leg to well below 6,517 (Dow). If market drops below 9,980 in the near term (month or two), this will be a solid sign that this alternate probably is definitely in effect.

One reason for the alternate market shift down in the next week or two is the currency market (EURO/USD) is about to begin a major move down (U.S. Dollar will climb). One more small move up (this coming week) for the Euro and that should be the near top. Then a long term down move for the EUR/USD.

© John Dilling November 7, 2010

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