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Stock Market May 8-11… High or Low?

Stock-Markets / Stock Market 2017 May 09, 2017 - 02:49 AM GMT

By: Ed_Carlson

Stock-Markets

In the 4/17/17 Market Update I wrote of a low-low-high interval pointing to a high on 5/11/17.

The lows of July 8, 1932 and December 9, 1974 were arguably the two most important lows of the 20th century. They lie 15,494 days apart. Adding an additional 15,494 days to the 1974 low points to a high on May 11, 2017.

In the 4/24/17 Market Update I wrote of a Hybrid Lindsay forecast pointing to a high in the period May 8-11.


The Hybrid Lindsay model confirms that forecast for a high in the Dow near May 11. The Hybrid model points to inflections points of both major and minor highs and lows so it does NOT confirm the low-low-high forecast for a major high – only that we should see a decline of unknown degree start near that time period.

There have been a handful of instances in the past when the Hybrid model forecast both a high and a low on or near the same date. Checking the forecast for a low uncovered the same anomaly for the May 8-11 time period. I’m leaning heavily toward the original forecast for a high – not just because of the low-low-high interval forecast – but because the patterns pointing to a high are “cleaner” than the patterns pointing to a low and a 21-day cycle points to a high today (chart). Either way, an inflection point is due this week.

Try a "sneak-peek " this month at Seattle Technical Advisors.com

Ed Carlson, author of George Lindsay and the Art of Technical Analysis, and his new book, George Lindsay's An Aid to Timing is an independent trader, consultant, and Chartered Market Technician (CMT) based in Seattle. Carlson manages the website Seattle Technical Advisors.com, where he publishes daily and weekly commentary. He spent twenty years as a stockbroker and holds an M.B.A. from Wichita State University.

© 2017 Copyright Ed Carlson - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


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