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will the Nasdaq 100 drop 5,000 points by 2020?

September 12, 2017

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S&P 400 Index is Humpty Dumpty before the great fall

Bull’s-eye forecast. Remarkable call for the Paris CAC40

Click on charts for larger images On 7 th February 2012 – just under four months ago - the Paris CAC 40 Index was at 3411.54 (first chart above). Regarding the wedge pattern that had formed, the forecast stated: “ But if prices begin to fall below or out of the lower boundary line, then prices will most likely fall back to at least the 2950 level.” Prices have now done precisely this (second chart above). It is remarkable that the CAC40 Index closed this past Friday 1 st June 2012 exactly at 2950.47 after going as low as 2922.26. To see the comments and forecast of 8 th Feb 2012 for The Paris Bourse CAC 40 Index click on the following link to the appropriate Blog Archive: Bearish Rising Wedge in the Paris CAC40 As you can see from the latest chart above (the second chart), the upward correction - or countertrend movement - from the low of 2693.21 on Sept 23 rd 2011 - finished on Friday 16 th March 2012 . And on this date

The XOM bomb? Caution is called for.

Click on chart for larger image Exxon Mobil, NYSE: XOM , trades on the New York Stock Exchange. Its closing price (Monday 27 July 2009) was $72.75. I believe it would be wise to be cautious going into further long positions for the time being. XOM may be completing a fourth wave (at letter E in the chart above). Note the appalling state of the 30 week simple moving average. This may well be an outstanding example of the ending of the global bear market rally which started last March. The rally has been so strong that I think it might surprise on the upside in the near term. But I would advise getting ready for a reversal. If XOM's price begins to drop, there is a distinct possibility it will travel to the $52.00 region which would be about the midpoint of the downward sloping channel marked on the chart. XOM's price may well take a breather at the $52.00 mark to gather steam, and then head on down to the $40.00 and below area. All the best to one and all! James Leo Donoghue le

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will the Nasdaq 100 drop 5,000 points by 2020?

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