Larry Edelson, of Uncommon Wisdom Daily, says that the Dow Jones Industrial Average may very well be nearing a top. We’ll note, for those of you who are skeptical of forecasters, that since the Summer of 2009, Mr. Edelson forecast a Dow Jones top in the 10,500 area. As fundamentals and technical signals changed, so did his forecast, but it seems like he has been right on target.
There is, as I’ve indicated to you before, massive system resistance – that’s on my mathematical models – at Dow 11,000, at Dow 11,200, and Dow 11,600. It’s very likely indeed that the Dow will pop its head above 11,000.
But we are in the very, very late stages of the rally off the March 2009 lows and I would not be getting overly enthusiastic here about the stock market.
While the market may still have a way to go, we, like Mr. Edelson, believe that it is getting close to capsizing. We’ll keep you posted on any significant technical, fundamental or cyclical developments if and when they happen.
View Larry Edelson’s Video Update for Oil, Gold, the US Dollar and the Dow Jones:
Mac Slavo Views:
Read by 94 people Date: April 2nd, 2010 Website:www.SHTFplan.com
Copyright Information: Copyright SHTFplan and Mac Slavo. This content may be freely reproduced in full or in part in digital form with full attribution to the author and a link to www.shtfplan.com. Please contact us for permission to reproduce this content in other media formats.
The content on this site is provided as general information only. The ideas expressed on this site are solely the opinions of the author(s) and do not necessarily represent the opinions of sponsors or firms affiliated with the author(s). The author may or may not have a financial interest in any company or advertiser referenced. Any action taken as a result of information, analysis, or advertisement on this site is ultimately the responsibility of the reader.