David A. Banister is the Chief Investment Strategist at www.ActiveTradingPartners.com
David believes that markets move largely based on important swings in sentiment, crowd behavioral patterns, Fibonacci Re-tracements, Cycles, and other ephemeral catalysts. The headlines explain what just happened in the market, but they do not predict the next moves up or down in the indices, sectors, or commodities. As an investor, you need to be armed with tools in advance of major moves that are accurate, and The Market Trend Forecast (TMTF) will assist you in being prepared as an investor for volatile markets both on the upside and downside.
In the late summer of 2010, David forecasted a run in the SP 500 to 1220 when it was below 1080 for his subscribers. Once the SP 500 hit 1227, David then forecasted a sideways to down chopping market for awhile. TMTF had our subscribers riding the market up the entire way from 1074 to 1227 and the entire time advised against shorting the rally.
Unlike other forecasting letters and online serices, David will be very clear on his forecasts. TMTF provides specific pivot points, reversal areas, and top and bottoming forecasts in all facets of the markets they cover. David has a special coupon offer for anyone that would like to test drive his awesome service. Special Offer: If you’d like to try the MarketTrendForecast.com subscription, Take advantage of a one time coupon code today! 12 months for the price of 6! Subscribe here and enter in coupon code: AD1246TMTF - Good for 24 hours from today only!
Here is an excerpted from TMTF November 28th:
Gold has been consolidating other than a spike to an intermediate wave 3 top of $1424, for about 7 weeks or so now. It’s typical to see Fibonacci periods of time as part of consolidations whether it be an individual stock or a precious metal in this case. Gold was overbought at the $1425 pivot highs a few weeks ago, and that terminated what I label a “wave 3″ pattern. This led us into a 4th wave corrective pattern which we remain in now. My worst case pivot low is expected at $1,321 and so far we have seen $1,331 an ounce and then an ensuing bounce to $1370 ranges.
In the intermediate term then, I’m looking for further consolidation likely for another week or so followed by a breakout over $1425 leading to my objectives of $1480-$1525 to complete the entire rally from the $1040 lows in February of this year. Many are starting to get bearish on Gold and Silver up here, and to me that is bullish and indicative of “4th wave mentality”. In a 4th wave, there is growing bearish sentiment, but not so much as to topple the bull structure.
To wit, last week in my ATP service I recommended a brand new Core Position in a Gold,Silver stock and it rallied as much as 40% intra-week at it’s highs. We are in a super bull market for Gold stocks as I outlined in August of 2009, and we have another four years left to go. I’m seeing alot of amazing chart patterns in the Junior space that are in relentless climbs. Owning the the explorers that are finding the Gold is how best to take advantage of the remaining four years. At ATP, we are exposed to Rare Earths, Silver, Gold, and Oil and Gas related plays in our Core Positions. Make sure you own hard assets and precious metals resources one way or another. My silver forecast in late August was basically predicated on the small investor swarming into the Silver market to buy up coins, look for that to continue and Silver to be over $30 in the not too distant future.
Below is my updated Gold forecast using a weekly chart, remember to Keep it Simple!
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