A big sell-off in tech created panic in the market, and we predicted this uncertain trend during this fifth cycle of 2024…
After a positive Monday, the market corrected sharply on Wednesday after a negative reaction to GOOGL and TSLA's earnings announcements, as traders were concerned about tech earnings. Although GOOGL announced positive earnings, and TSLA announced a poor outlook for the future, both these stocks led to a massive selloff in tech stocks, with the NASDAQ falling over 700 points in a day. AMD, ARM, QCOM, MU, DELL, NVDA, MSFT, TSLA, GOOGL, and many other frontline tech stocks had a free fall.
Most important is our predictions came true of sell-off in July as predicted. I warned everyone three weeks back, that close long as uncertain time cycle is coming in July 2024. First four cycle were so positive as per our book, and market performed amazingly well from January to July first week. Higher side 20001 and 5775 levels predicted and they almost got achieved, now we are very close bottom out so Thursday will be great time to add long position in market. Buy NASDAQ and S&P on Thursday, down side 1% and higher side 5 to 7% rally can take place in the one eight days.
This is the power of the Astro cycles, evident in the recent moves we have seen during this week. As we had mentioned, we were not sure what the catalyst would be, but the Astro cycles affected people's minds and caused the massive selloff and collapse, with the NASDAQ losing value from 20,800 and S&P from 5670.
Corrections are a healthy part of the market, and thanks to the Astro cycles, we were prepared for this one. Our longer-term outlook for the US market is still very bullish, and these prices we are seeing today are great entry levels for the future.
What a perfect prediction we mentioned in book, last four cycles our view was very bullish for market, and in the current cycle our view is very negative and uncertain. I don’t think anyone on this planet predicted with this kind of accuracy. All these 2024 predictions were made in November 2023 in our book “2024 Financial Predictions”.
On Wednesday, metals lost value as we had expected, with precious and base metals moving down.
Energy and Natural Gas prices traded in a mixed to negative trend throughout the day without making any major moves on either side.
Grains prices moved higher but gave up some of the gains by the end of trading. Our favorite grain wheat remained one of the best performing for the day.
Soft commodities all traded differently. Coffee and Sugar lost value as expected, while Cotton moved lower, but recovered by the end of the trading session. Cocoa and Orange Juice traded in a mixed trading pattern.
Frontline currencies traded mixed to negatively, while the Dollar moved lower, but mostly covered up its loss by the end of the day, closing quite close to par.
Thirty-year bonds lost value and closed lower for the day.
Final note: It's time to buy most of our favorite stocks. Next week, we can all make big windfalls in the market, so go all in. Just focus on US tech stocks.
Metal will move higher next week, energy will keep struggling, but natural gas will rise sharply.
Grains are bottomed out, and softs will trade directionless.
As predicted, the Japanese Yen gained big value in the last week. Now, it's time to book a profit but take a long position in the Brazilian Real.
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Our previous forecasts identified significant S&P Astro resistance levels (5775) and NASDAQ levels (21111), which are profit booking levels. We also projected that the S&P will reach 12500 and the NASDAQ will hit 45000 by 2029. These predictions underscore the importance of planning your long-term strategies accordingly.
Important Mantra: Don’t trade with your emotions, don’t love or hate anything in the market as you are here to make money and protect your capital, and the Astro cycles are great tools that can help you decide where the new wave is coming from.
· This is what we mentioned on the 26th of October 2023: The Astro combinations will turn extremely positive on Monday, the 30th of October, before the USA market opens or on the 4th of November. This is excellent news for investors as we expect a dark cloud to clear from Jupiter, which is currently ruling the market trends. One of the biggest Airavath (bullish) trends will start from 30 Oct or 4th Nov 2023.
· Our astro cycle provided a perfect bottom for the market position in October 2022, when the S&P was at 3495 and the Nasdaq at 10555.
· On 22 March 2020, the astro cycle provided an exact bottom for the S&P at 2293 and NASDAQ at 6795.
· Early this year, I was in India and provided an interview to Zee Business TV. You can change the language to English subtitles or any other language for the interview in Hindi.
https://www.youtube.com/watch?v=Ov0sagnK8A4
Thanks & God Bless
Mahendra Sharma