DOW 15,000 Ahead? Asks Market Timer Frank Kollar
September 28, 2007 (FinancialWire) (By Frank Kollar)
The Dow Jones Industrials are a fraction from new all time highs. The Nasdaq is already at new 2007 highs and moving higher. A break out by the Dow to new highs will forecast a run to at least 14,429 in coming weeks. We will go out on a limb and look further ahead.
14,429 will offer strong resistance but the stock market is likely to surpass this level. If surpassed, it will bring up the next target for this rally. Over the next several months, possibly before the end of 2007, the Dow will reach at least 14,948. The approach to 15,000 will be tough to achieve as profit taking and disbelievers sell into the rally. But this is where we will be.
Kollar’s research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.
Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.
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