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This is a very exciting update to a previous post. On February 8th 2010 I forecasted a rally and a decline along with specific prices & dates for FCX. Astronomical cycles were primarily used for the analysis. To view the first post go to http://1618analytics.blogspot.com/2010/02/freeport-mcmoran-weekly-chart.html
To view the second post go to http://1618analytics.blogspot.com/2010/03/freeport-mcmoran-update.html
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Through research I was able to determine that FCX shares cyclical characteristics with the heliocentric orbit of Mercury and Venus. I used a system of conversion with price X time units to arrive at a cyclical date high and low. My forecast included a rally of $14.82 or 21.41% up to $84.02 by March 19th, then a decline of $23.94 or 28.49% down to $60.08 by June 4th 2010. On March 17, 2010 FCX hit a high of $83 before pulling back and going higher. FCX travelled as high as $88.30 before its final inflection high occurred on April 6, 2010. From $88.3 FCX sold off aggressively and hit $62.52 on Friday June 4, 2010. The following Monday FCX hit a low of $58.24 and has since rebounded.
I determined the following on February 8th 2010....
"The downside targets for the decline include":
1) $60.07- Target week of 4/06/2010.
2) $45.02- Target week of 16/07/2010. I believe this to be the most accurate forecast. This target is expected to provide a sharp and fast rally.
3) $20.67- Target week of 8/10/2010
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This is proof that astronomy can be used to predict stock price cycles with great accuracy. This forecast was accurate within one day and $2.44 on a 4 month time horizon and a $23.94 price decline.
