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DOW: is trading sideways for the moment and appears to be in ‘threes’. If so, it will continue to around 26,950 and then drop down again (guess).
Possibility here of a sideways triangle thing that can resolve upwards or downwards. I know it seems ridiculous, but a triangle here would open up the possibility of a final upwards burst to close the gap at 29,000…
Not a prediction, just musing…
Dow at previous aths has had a sharp drop
and then a slow grind back up to new aths.An annoying possibility.
Never give up, never surrender.
In response to the virus in the UK.
It’s been floated as an idea to stop short of
draconian public measures and accept that
most will get the virus and survive.Worth thinking about as the next step here
would be to ban public events, shutdown
public transport and close schools of
any size and age range.Never give up, never surrender.
Stock markets are must more likely to recover
with the above floated idea than they will
with piddle rate cuts.Never give up, never surrender.
Virus situation is getting worse in the States, spreading like wildfire. Situation in Italy is really quite frightening.
For the Dow the only additional observation I have is that there now appears to be a significant line of resistance at 27,000 – worth noting for the future.
Dow could revisit recent lows and then put in a
large invhs and go back to retest 29000It seems anything is possible atm.
Never give up, never surrender.
Just checking my virus plans are in place.
Which is that I have enough French red wine.
Never give up, never surrender.
5.00am here in Korea. Just had two glasses of Chilean Merlot. I dunno – the bottle just happened to be open…
I am not sure enough to risk a Dow trade on NFP friday.
All chart options seem open and I would like the
market to atleast show some of it’s hand.Never give up, never surrender.
Looking back at other Dow actions after new ath’s.
There is one where it went down in a pole like
drop, bounced and then had a lower low drop.Pattern wise it looks like this ath drop.
Odds are one more drop then grind back up
for months.I think there will be better / clearer times
to trade and I will wait for them.Never give up, never surrender.
SPX: in this earlier chart I speculated that spx might see a larger ABC decline with some sort of B wave rally. I wonder if that pattern is now developing. We got an almost clean ABC down to the low, and now a volatile sloppy overlapping rally thing, which *might* be the B wave.
Interestingly the Bradley date of March 3rd very closely marked the low. The next Bradley is March 18th, so perhaps the volatility ups and downs continue until then. The Bradley chart has a low mid-April, which also sounds feasible.
As always, take these Bradley things with a pinch of salt.
All i can see happening today is a low around nfp release followed by another head boggling rally..either that or the worst 1 day decline in history lol
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