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S&P 500 Weekly Chart Update

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NewsL!tter

Today i emailed this to select friends.

Hi frens, To God be the Glory.
after projecting 950 for the sp500 this May, i drop the idea that it will past that level for the reason that the vbottom pattern have made no effort for a healthy correction. reason why i am afraid of the market now is that it is a very tricky pattern. the tail end of the v usually gives us a clue whether there will be sustain breakout or a correction of great depth is about to happen. it is clear now base on the sp500 charts’ april to present chart formation that indeed this is the tail of the V. you may call it a truncated double top or a 2B, but the ingredient of a low volume tail end signals that a major correction is imminent, this coupled by sp500’s stalled actions for the past few days. this is the very same pattern of aud/nz daily (posted at blog). i even targeted sp500 at 1050 – 1100 for yr end and was about to upgrade but did not bevause there’s no healthy breather.
i have more reason to be afraid based on the charts as im now entertaining the idea that this was all a tease and indeed could be a sucker rally.
will draw chart tom, but the interesting fact is that, unlike the the more stronger V (aud nz has an extended flag), the sp500 did not even breath convincingly, except slightly on the tail end. that’s what im afraid of. just my humble opinion. Godbless always.

be well,
hernan

S&P 500 and Aud/NZ Forex Pair Vbottom Comparison

S&P 500 and Aud/Nz Pair Comparison

My Answer to an email from a Friend and concern of Gerald

hi friends,
first of all my apologies. i know i abandon the idea of sending unsolicited emails when i was scolded many times. today i got an email from a friend who works in a big foreign bank. it occurred to me, after i abandon the NewsL!tter, i am still updating a few who are close and dear to me. attached was her email to me and my answer. this is important for me to update my friends. it just slip into my mind that i should have update my sp500 analysis tru emails. my apologies.
——-
below is my reply to a friend earlier.

i abandon the idea of sp@950 this May when SP made a spike early may hitting 931 or so. so sorry i did not inform you tru email. i posted a warning before hand in my blog (even in my friendster hehehe, in http://www.linkedin.com and www.financemanila.net/forum) that a major global equities correction is going to happen in May as well. this will last til august BUT it is not goin to re test the march low of 667. unlike any correction, this one is an opportunity to buy and a much different to any “bear market rally” made by the markets in the past. those bear market rallies made by the global markets in the past was a sell on strength opportunity, this current correction even branded as such (bear suckers rally) is a buy on dips opportunity. We might see sp500 to drop between 800-850 within june-july, and most of the time consolidate. mid august might signal the end of correction as i believe an spectacular rally will get everyone in a drop jaw til year end. i peg sp500 at 1k to 1100 this nov/year end. caveat and Godbless us all always.

be well,
hernan

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— On Sun, 5/17/09, wrote:

From:
Subject: RE: S&P 950 in May 2009
To: spyfrat@yahoo.com
Date: Sunday, May 17, 2009, 7:35 PM

In your opinion, is the S & P going up or down in May? Someone did a
technical chart and say that based on Elliot Wave theory ( believe it’s
Elliot wave or she said wave theory) she thinks S & P will go down to
the 667 last low sometime between now and Aug. Agreed or disagree?

I’m in two minds about it. IF you agreed/disagreed, what’s the reasons?
I’m not holding you to anything, just want to try to understand the
market.
Thanks and take care!
—–Original Message—–
From: Quantum [mailto:spyfrat@yahoo.com]
Sent: Monday, March 23, 2009 3:00 PM
To: Spyfrat
Subject: S&P 950 in May 2009

Dear friends.
First, apologies on the previous analysis re: major dollar collapse
within 2 weeks. the study was off by 2 weeks. only consolation was it
came late than never. i posted some charts when euro and aussie
triggered a buy signal on their daily charts but got a whipsaw signal on
usd/chf on swiss intervention. over the weekend i studied some
interesting patterns in the S&P. here’s a brief outlook…

“key level 797-809 for this week. if break, 950 in may09. analysis used
are wedge theory, channel,grid, and vbottom patterns.
analysis void if key levels are not break within the week. time element
is a big factor in this analysis. caveat.”

take care all and Godbless.

be well,
hernan

Support the street children movement. Please feed the needy.
www.geocities.com/spyfrat/
http://spyfrat.wordpress.com/
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S&P 500 Update May 13, 2009

The S&P500 March low was a spectacular turnaround story in the history of equities history. With recession on hand, S&P 500 managed to jumped almost 40% since March 2009. After a bold prediction of S&P500 going to 950 this May 2009 when it was still in the doldrums. I am now predicting a 10% – 15% major correction on global equities. This fortunately is a BIG CHANCE TO BUY ON DIPS, as i see a wonderful equities return from August 2009 to year end.

S&P 950 May 2009 Target Update

s&p nearing 950 target this May. Enjoy while it last. major correction coming this May as well, probably it will start 3rd week May til Aug. Bears will need it as they justify that the said rally was a bear sucker. Bulls are pretty well “funded” + side liners will join the buying spree thus adding more fund. This will be the LAST leg down for 2009. After August, bulls will win the battle. $1/chart, so cheap.

S&P 500 Weekly Chart April 23, 2009

Updated chart of the previous analysis. target of 950 this May 2009 is still on.