Friday, November 6, 2009

S&P500 Possible Moves In November 2009

S&P500 technical analysis:
Here is my monthly forecast. Last month I did very will lets see how does this month is going to play out.
I give 20% chance to rally up to 1090 then S&P500 should roll over, and just 5% chance of possibility of breaking out 1100.If we break 1100 S&P500 should runs out steam at 1125-1150.
If S&P500 moves lower to 1015 there is 45% chance of short squeeze, but if 1015 could not hold there is 30% chance we head as low as 1000 or even more.