US Markets weekly outlook [21 to 25 may 2012]

US Markets weekly outlook

DOW JONES 6 month Fibonacci retracement chart

DOW JONES weekly pivot point levels

*DOW JONES weekly forecast and technical analysis:-

Dow jones industrial average this week tumbled 500 points from high on week on week basis and closed at 12,369.for next week on downside targets are  12,200 and then 12,000 as trend is absolutely down for short and medium term.this week dow fall below 200 DMA that is fresh lower side breakout and our next positional target for this index will be 11,830 for medium term.on 6 month high to low retracement chart,dow still above 50% retracement mean there is much more space left below!!

*NASDAQ 6 month Fibonacci retracement chart:-

* NASDAQ weekly pivot point levels:-

*NASDAQ weekly forecast and technical analysis:-

NASDAQ fall below 50% retracement 6 month Fibonacci retracement level.NASDAQ this week tumbled 5% from week high and closed at 2778.next week downside support/targets are 2773 and 2720 while resistance will be 2835.NASDAQ also breeched its 200 DMA and heading lower.for medium term our target below 2810 on closing basis will be 2680!

*S&P 500 6 month Fibonacci retracement chart:-

* S&P 500 weekly pivot point levels:-

*S&P 500 weekly forecast and technical analysis:-

S&P 500 also tumbled by 60 points on week on week basis.next week support levels are 1290 and then 1270.S&P also breeched its 200 DMA and going downs on global fear!for medium term here our target is 1250 below 1310 on closing basis.on chart all major short to long term indictors suggesting that fall may continue for medium term.

*VIX 6 month Fibonacci retracement chart:-

* VIX weekly pivot point levels:-

*VIX weekly forecast and technical analysis:-

as we recommended in last week analysis,vix given breakout above 23,and trading above 200 DMA.this breakout means for now medium-long term view.for medium term we see this week may go upto 28 then 33 in medium term as on every downfall market volatility increasing and risk also!!while for 2012 VIX above 29 will be very bad and above 29 it will zoom to its previous highs of 42 to 45 till end!!