Sunny Side of the Street Daily
VantagePoint Prediction for Tomorrow
The chart shown just below is of the daily Dow Jones Industrial Index. There are two heavy attractors in force. One is about as far above the current market as the other is below the current market. So, it could go either way -- easily.
My guess is that ultimately it will go in the direction that the least people expect. So, if most people are long and expecting the market to go up, it will reverse and go down. The first line of Attraction, however, is at 12,453.08, right beneath today's market. That one will probably be hit first, before it begins some choppy 4-wave or a-b-c corrective sideways action.
If you look at the longer term chart, further below, you'll see more information.
On the weekly chart, below, it appears that the Dow will soon correct to the 23.6% retracement area, at 11,381. To me, it looks like the correction will stop before it gets that low. There is an Attractor at about 11,500, with two previous resistance areas and a support area all forming a horizontal line. The market has done some serious straight up movement over the past two years, and it is about time for a correction.
On the monthly chart, below, it would appear that the last two years has been straight up with very little hesitation. It's almost as sharply up and many markets move down. Some would say that the market is showing a Head-and-Shoulders pattern. Actually, it is not in place yet. It is only a potential H&S so far. The monthly chart would also show us moving down to the 11,272/11,300 area.
It is still likely that we will see a retracement to 1250, based on the orange Attractor at the bottome of the chart, but it currently looks more like a bouncing ball, going back and forth between 1346 and 1296 for a while longer. Because the SunnyDMA line is in the UP configuration (Gold on Top), it is likely that price retracement will hesitate or stop at the midline (at 1318) for a while before showing its hand any further.
The Dollar Pound currency pair was riding the bottom SunnyBand downward until it hit the Attractor at 1.59459, where it bounced & turned around. It then hesitated at the DMA Midline and continued on up to the top band. Now it looks like it wants to move on up, as the DMA has crossed UpWard. That should give us a few pips as it reaches for Attractors at 1.65+ and 1.66+.
STOCK PICKS (High PHWs)
In this complex RadarScreen chart, there is LOTS of information.
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