2010 Forecast for the SPX...A Chain Reaction Accident waiting to happen?

Tony Cherniawski, Manager of The Practical Investor, LLC explains the series of events that could lead to a major decline in the SPX in 2010.

Category:

News & Politics

Tags:

• stock market patterns
• techncal market analysis
• charting the SPX
• technical stock chart
• stock market analysis
• free stock analysis
• real time market analysis
• analysis of the stock market
• free stock market analysis
• fundamental stock analysis

[solojam]

you are right, but it will happen by march!!!!

bernake wont be voted in again, and the market will be crushed, the fed will be audited

[ThePracticalInvestor]

Cycles are my guide and they suggest things will get much lower.

[maximumvalues]

----- 1090 -------- LOOK AT this level on the daily before the rise to 1150 .... we bounced off of it what seemed like 100x ... we all waited and waited for weeks to see what happened. on the way down do we have to wait week after week again? im thinking so. we may just gently rise into OPEX before breaking the 1090 . may range bound 1090 - 1120 for the next few weeks. im monster short but you can see some stocks are overshorted already.

[ThePracticalInvestor]

There is such a concept as shorting an oversold market. One needs quite a lot of skill and guts. A roadmap such as EW or Cycles also help a lot!

[radiantinred]

Tony,

As a EWT practitioner these are very scary times indeed.

With Quantative Easing and stimuli slowing up and the debt burden realisation we could now well see the true state of the economy to show through in the charts.

The plants are definitely less ghoulsh now (but very healthy) . A little feed in winter time is a nice boost for them.

[ThePracticalInvestor]

My wife helped rearrange the ficus jungle. The office wasn't built to be a TV studio. Thanks.

[secretbonus]

@Adahondeayenh It may have been a "Fibonacci Fan" which is not a pattern itself, but is used much like the horizontal fibbonacci patterns for identifying support and resistance. While Fibbonaci horizontal lines are the traditional lines used for support and resistance, Fibonacci fans can better identify rising support linds and trend patterns.

[Silberhorter]

another bear alive who has not thrown in the towel like back in late 2007? wow! but hey the central banks will help and are so powerful, the dollar is toast, but there is so much money on the sidelines, and stocks are the only place to be in a no-interest environment. All these factors will lead to a devastating chain -reaction to the downside in my view once a news-driven light-grey swan event sets in a sooner rather than later.

[Adahondeayenh]

Hm, that's interesting that you talk about that wedge formation... Without intervention in the markets, that technical analysis will be spot-on in my opinion. However, banks still have bailout cash, traders might get greedy when they here about the new stimulus package...

Question:A couple months ago I heard someone talk about the wedge pattern, but they called it something like a 'fan' pattern. Does anyone know what I mean when I say fan? What is the technical name exactly? Are these the same?

[elistn]

Very nice video - cheers. However, I can't ignore the face that your reviews are bearish for 6 months now.... What will make you change your view?

[omeg50]

I love your creativity, I agree with you about the accident, however, it won't happen until Mid-Year.

Technical analyzes works only when there is no intervention.

[cosmicguerilla1]

nice one , cheers tc