With several indices at inflection points and our next critical date coming up in about two weeks, it seems like a good time to update our analog. For our new members, I first proposed the current analog back on March 27 [see: A New Analog.] It has been updated numerous times since.
Analogs have been a favorite tool of mine for many years, beginning with the 2011 as 2007 analog that forecast the dramatic July 2011 correction to the day and dollar. For more on what they are and how they work, see the general post on analogs HERE.
So far, this one has done an excellent job of helping to forecast several major moves since March, including SPX’s recent 90-point decline to close below the 200-day moving average. If it plays out as suspected, it will leave many investors shaking their heads.
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