Back on 22 August, I set a price target of 5600 for the FTSE and 1260 for the S&P500. On 21st October a short term Buy signal was triggered at 5400 with the 20ema > 50ema. Long term the 50 ema (5431) < 200 ema (5568). Only a weekly close above the 200ema will change the long term view. Personally, I am looking for the FTSE to get to 5900 by year end. A weekly close below 5350 will be the trigger a move down into a Bear market low by October 2012 around 3500
For the S&P500 the short term price was triggered on Thursday 20 October at 1200 and confirmed by the Long term price break out at 1235 on Thursday 10 November. Only a weekly close below 1190 will trigger th next BEAR leg down
For the S&P500 the short term price was triggered on Thursday 20 October at 1200 and confirmed by the Long term price break out at 1235 on Thursday 10 November. Only a weekly close below 1190 will trigger th next BEAR leg down
| Market | Buy | Stop | Target | Gain |
|---|---|---|---|---|
| FTSE | 5400 | 5350 | 5900 | 10% |
| SP500 | 1235 | 1215 | 1358 | 10% |
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