Last week, I was expecting Dow jones to close at 12810 and it closed at 12815. Here is a link for last week prediction http://www.freefdawatchlist.com/2012/11/weekly-outlook-for-nov-5th-9th-dow.html For the week, Dow jones was down 277 point (-2.12%), S&P500 was down 48.54 (-3.4%) and Nasdaq was down 77 point (-2.59%)
Expectation for Nov 12th - 16th:
Dow jones is expected to be in the range of 12,700 - 12974 range with closing Price target of 12742. Below is the trading plan for this week. As long as Dow jones is above 12810 its a buy with PT of 12974. Below 12810, Dow jones is a sell.
In S&P500, above 1381 is a buy with PT of 1398 and below 1381 its a sell with Pt of 1365. 1372 is the expected closing PT for Nov 16th.
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| Dow jones weekly outlook expected to close at 12742 unless it moves above 12810 then closing Pt is 12974. |
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| Dow jones monthly outlook is still in downtrend. The downtrend will be paused if Dow jones moves above 12983 and it will be bullis again but below that the trend is still bearish with PT of 12580 |
What will happen if Fiscal cliff is not resolved ?
Below i have presented two chart to show what will happen if US fiscal cliff is not solved.
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| S&P500 is hold between 1360- 1383 |
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| Chart for S&P500 if Fiscal cliff is not resolved. |
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