chief TA of JPM said bottom by May

zyang

Michael Krauss, the firm’s chief technical strategist, said the S&P 500 will fall to 650 points “within days,” a 3.9 percent drop from yesterday’s close. It will then rally for two to three weeks, gaining as much as 18 percent to 765, before dropping to a range of 650 to 600 by May.

Krauss said his November prediction that the index would climb back to 1,100 by year-end “is too aggressive.” The “worst-case scenario” is a decline to 549, a level 65 percent below the October 2007 peak, Krauss said. That’s where a line drawn through the market’s 1942 and 1974 lows on a logarithmic scale intersects the current month. A weekly or monthly close below 549 “would prove us totally wrong,” he said.

FROM:http://www.bloomberg.com/apps/ne ... bM4shs&refer=us

NOTE: Krauss used EWP to make the prediction

源济

Thanks!

buctusa

I still do not understand why MM wants to share their trading plan with us?

Michael Krauss, the firm’s chief technical strategist, said the S&P 500 will fall to 650 points “within days,” a 3.9 percent drop from yesterday’s close. It will then rally for two to three weeks, ...
zyang 发表于 2009-3-10 16:01

ByStander

Michael Krauss, the firm’s chief technical strategist, said the S&P 500 will fall to 650 points “within days,” a 3.9 percent drop from yesterday’s close. It will then rally for two to three weeks, ...
zyang 发表于 2009-3-10 16:01

上次他就没说对，这次就能对？