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WEEKLY CHARTS

DJIA: Weekly support at 12250 and 12000. Resistance at 12450/500.

DJTI: Weekly support at 4600 and 4200. Resistance at 5000.

SP500: Weekly support at 1360/55 and 1325. Resistance at 1420/25.

NASDAQ: Weekly resistance at 2490/2500. Support at 2390/80.

HUI: Weekly support at 280/275 and 310. Resistance at 350.

OIL: Weekly resistance at $62.50. Support at $57.50.

The McClellan Oscillators are about to re-test the zero line. If the test is successful, we ought to see higher prices by the end of the week.

The Quantifiers are rising, suggesting that the odds favor higher prices.

The trend is UP for NASDAQ.

 
The trend is UP for the SP.

SUMMARY

Currently, most of the indicators are pointing down while seasonality is highly positive. NASDAQ offers the best forecasting "picture" for the following week, and thus, we have chosen it as our "proxy" for what we ought to expect. The three most possible scenarios--and their probabilities as calculated by our system--are illustrated below.

Ike Iossif

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