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Saturday, October 13, 2012

Weekly Outlook (Oct 15th - 19th) for Dow jones, S&P500, Nasdaq and VIX

Based on the weekly outlook issued last week, my price target for Dow jones was 13335 and it closed at 13328. Dow jones closed at 13326. Click here for last week article. For Oct 15th - 19th, I expect Dow Jones to stay in the range of 12981- 13492 with closing price target of 12981 unless Oct 18th Eu finance minister announce big bailout for Greece and Spain and then the Price target is 13492. The first warning sign for crash arleady ON in S&P500 as posted last week with first Price target for 1385. followed by 1275.
Closing PT on S&P500 is 1402 if Greece and Spain don't get bailout on Oct 18th and 1439 on getting  bailout.

Dow jones
Dow jones expected to stay in range of 12981 - 13492 with closing PT of 12981, unless on Oct 18th EU finance minister announce some special package for Greece and Spain.

For the week Oct (8th-12th): Dow jones was down 382 point (-2.07%), S&P500 is down 33 point (-2.21%) and Nasdaq is down 93 point (-2.94%).

For 1 Month: Dow jones is down 211 point(-1.56%), S&P500 is down 32 point(-2.15%) and Nasdaq is down 111.71 point (-3.54%).

For 3 Month: Dow jones is up 551 point(4.32%), S&P500 is up 71 point(5.29%) and Nasdaq is up 135 point (4.6%).

For 6 Month: Dow jones is up 479 point(3.73%), S&P500 is up 58.33 point(4.25%) and Nasdaq is up 32 point (1.09%).

For Year to Date: Dow jones is up 1111 point(9.1%), S&P500 is up 171 point(13.6%) and Nasdaq is up 439 point(16.85%)

For 1 Year: Dow jones is up 1850.72 point(16.12%), S&P500 is up 329 point 18.69%) and Nasdaq is up 428 point (16.18%).

For 5 Year: Dow jones is down 764.23 point (5.42%), S&P500 is down 133.21 point(8.53%) and Nasdaq is up 233 point (8.5%).

Expect very volatile week because the market will keep swinging on every bailout rumor for Greece and Spain. Oct 18th is the date to watch this week.

Chart for Nasdaq, S&P500 and Vix will posted later tonight.