In my last post with regards to market http://financialmarketswizard.com/archives/1304 I have mentioned that if Dow Jones closes at or above 13,130 on any given day then it will trigger the buy signal. It did on Thursday. Now it needs to cross 13,297 (the 2012 high) which I think it will. After 13,297 it will go for 13,430 (conservative target) and then 13,555 (moderate target) and could hit 13,925 by end of May. When markets were going down two weeks back I had also mentioned in my post http://financialmarketswizard.com/archives/1293 that markets have another leg to the upside with target of 14,000. Markets since then have been going up instead of going down.
With regards to S&P I had mentioned that S&P must close above 1395. It did last week and closed at 1403.36. Now it must close at 1407 and then take out 2012 high of 1422. Once it does then the conservative target would be 1435, moderate target would be 1452 and ultimately could hit 1467. At 1467 we would see what the market does.
NASDAQ 100 did not close above 2746 as mentioned in previous post. It went to 2750 and closed at 2741. This week it is expected to move up further. After 2746 it must take out 2012 high of 2793. If it closes above 2804 (11 points above 2012 high) then it would head towards the target of 2835 – 2850 and eventual target of 2915 (probably by end of May).
Please revisit this post later for important update on Gold Market.