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Tuesday, March 17, 2009

Point and Figure Rally Targets

Yesterday, Nouriel Roubini, fondly known as Dr Doom, said this rally was a "dead cat bounce. On March 9, Roubini said in the best case he saw the S&P500 increasing to 720 before falling as low as 500 to 600. With the S&P currently at 756, Roubini was overly pessimistic. Could he be wrong about the dead cat bounce too?


See our article "Nouriel Roubini, Dr Doom, Thinks DOW 5,000 is Possible"

Using "point and figure charting," the S&P500 target is 975, a gain of 46% from the bottom at 666.
Click chart, courtesy of Stockcharts.com, for full size image

The NASDAQ Composite PnF target is 1790:
Click chart, courtesy of Stockcharts.com, for full size image

The NASDAQ 100 PnF target is 1420:

Kirk Lindstrom's Investment Letter Performance

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