The market has taken a complete beating this past week, I believe a recession is here. The DOW JONES has just met support on the weekly chart dating from Jan 2017. This is now the 5th test of this support, making it a stronger pattern and more likely to break further to the downside. Once it breaks support, it will then meet its next support at the 23500 level, which happens to complete a double top bearish pattern, which i believe will be complete by mid Nov-Dec of 2018, this year. Once it completes it will bounce back roughly until March 2019 to retest the old support, which will become resistance at the 23500 level. It will then proceed to break down further meeting each weak support along the way to complete a very recessive bearish pattern. I believe it will bottom out at -43%, $15350, of it's old all time high. Completing its downward spiral by April 2020, 1.5 year recession from high to bottom just like in 2008. It followed a very specific similar downslide. Its here everybody! Tread lightly! ANNNND let's make some money shorting! The most wealth is created from times of recession.
評論:
Markets in trouble, based on the Dow Jones Index. DJI has struggled to stay above the trend line drawn above and has cracked below it for more significant downside.