Fibonacci upside projections from my book dated 4/5/12

Leave a comment

[Edit]

BELOW ARE MY ELLIOTT WAVE FIBONACCI UPSIDE PROJECTIONS FOR THE DOW S&P AND NASDAQ FROM MY 4/5/12 book; INVESTMENT STRATEGY HANDBOOK FOR VOLATILE MARKETS 

DOW JONES INDUSTRIAL AVERAGE INDEX

UPSIDE RESISTANCE ZONES

ADDITIONAL INFORMATION IS AVAILABLE UPON REQUEST
Mr Birkelbach does not offer investment advice, but merely his own personal opinion. This report has been prepared from original sources and data we believe reliable but make no representations as to the accuracy or completeness. Mr.Birkelbach , his affiliates and subsidiaries and/or their officers and employees may from time to time acquire, hold or sell a position in securities. Past performance is no guarantee of future success. Upon request, we will supply additional information. CarlBis@aol.com

1st Resistance 2nd Resistance 3rd Resistance 4th Resistance  5thResistance
14,198 14,198 14,198 14,198 14,198
-6,470 -6,470 -6,470 -6,470 -6,470
=7,728 7,728 7,728 7,728 7,728
X138.2% X150% X161.8% X 100% X 61.8%
=2,752 3,864 4,776 7,728 12,503
+14,198 14,198 14,198 14,198 14,198
=17,150 18,062 18,974 21,926 26,701

Should the Dow break above its old 2007 high of 14,198 the upside potential can be at Fibonacci Resistance Zones of 17,150, 18,062, 18,974, 21,926 and 26,701. This would indicate that a new Bull Market and the Hybrid age has arrived. Even though I don’t tell the market what to do. It would be nicer for all of us than the Downside scenario. If we do enter a new Bull Market, Bull markets in the past occur is a series of doubles. 14,198 would then become an Elliott wave and the most powerful upwave #3 should follow! We  can hope.

S&P 500 INDEX

UPSIDE RESISTANCE ZONES

1st Resistance 2nd Resistance 3rd Resistance 4th Resistance 5th Resistance
1,576 1,576 1,576 1,576 1,576
-666 -666 -666 -666 -666
=910 910 910 910 910
X138.2% X150% X161.8% X 100% X 61.8%
=126 455 562 910 1,472
+1,576 1,576 1,576 1,576 1,576
=1,702 2,031 2,132 2,486 3,044

 

Should the S&P break above its old 2000 and 2007 double top of 1,576 the upside potential would be a Fibonacci Resistance points of 1,702, 2,031, 2,132, 2,486 and 3,044. As with the Dow, this would indicate a new series of Bull Market could be beginning. It would also mean that we have somehow solved our economic and environmental problems. Now that I think about it, this seems a more unlikely scenario than the Bearish Downside scenario. However, what will be, it is not for the future for be to see, but obey.

NASDAQ COMPOSITE INDEX

UPSIDE RESISTANCE ZONES

1st Resistance 2nd Resistance 3rd Resistance 4th Resistance 5th Resistance
2,861 2,861 2,861 2,861 2,861
-1,268 1,268 1,268 1,268 1,268
=1,593 1,593 1,593 1,593 1,593
X138.2% X150% X161.8% X 100% X 61.8%
=1,267 455 562 910 1,472
+2,861 2,861 2,861 2,861 2,861
=3,469 3,658 3,845 4,454 5,062

The 2009 low of 1,268 was higher than the 2007 low of 1,108. However, a new high in 2011 failed to have any follow through. This is a positive and negative offset. Another break above the old 2011 will continue to run into supply from the 2000-2002 meltdown. Upside Resistance is at 3,469, 3,658, and 3,845 and around the 2000 recovery high of 4,300 and of course at the all time high at the 5000 level. That’s a long way off. But who knows!

FROM THE 4/5/12 INVESTMENT STRATEGY HANDBOOK FOR VOLATILE MARKETS

Carl M Birkelbach 12/6/14

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s