This post is continuation of the "Market Prediction 1994-2000" post.
For the bull market 2002-2007 same target setting conditions apply as for the previous cycle. The outcome of the analysis is pretty accurate. Wave 3 target set by 2.618x projection of wave 1 was 1255. The S&P peak was at 1244. Wave 5 target was set at 1522. As seen, the index stalled around that level followed by severe correction.
Find more on this target setting method at www.capitalhubs.com/p/forecasting.html
For the bull market 2002-2007 same target setting conditions apply as for the previous cycle. The outcome of the analysis is pretty accurate. Wave 3 target set by 2.618x projection of wave 1 was 1255. The S&P peak was at 1244. Wave 5 target was set at 1522. As seen, the index stalled around that level followed by severe correction.
Find more on this target setting method at www.capitalhubs.com/p/forecasting.html