Long opportunities are coming, but not yet
Hi guys,
I decided to chart something a little bigger this time. This DJI chart on the weekly goes back to the 80's (atleast what we can see on the screen). You will notice this long term historic trend line has held up for a very long time. It bounces off of it every so often, and occasionally breaks through it during bear markets. The last time it broke through the trend line was 2008-2009 during that bear market. It is pretty obvious that we are entering into another bear market, as we have just broken down through this long term support line. I do not know how far we will fall, but the trend is downward. My condolences to anyone on the losing side of this market. Keep your chins up everyone!
- Matt
I decided to chart something a little bigger this time. This DJI chart on the weekly goes back to the 80's (atleast what we can see on the screen). You will notice this long term historic trend line has held up for a very long time. It bounces off of it every so often, and occasionally breaks through it during bear markets. The last time it broke through the trend line was 2008-2009 during that bear market. It is pretty obvious that we are entering into another bear market, as we have just broken down through this long term support line. I do not know how far we will fall, but the trend is downward. My condolences to anyone on the losing side of this market. Keep your chins up everyone!
- Matt
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