Dow TOP call - 10yr top formation done
- Thread starter deadbroke
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Quote from deadbroke:
The Dow Jones Yearly chart from 1700s would give the clear view of the EMPIRE buster that I've called in my TA thread. CALL is still valid.
But for now let's just take the monthly for the beautiful topping pattern. As you know ANY trend of consequence ought to have a clearly defined topping pattern; this one is a beaut.
Things to take note of
(1) Downsloping neckline is super bearish
(2) Macd in lower panel shows the magnitude of downward force on PRICE even in the face of the rally from March 2009.
(3) The histogram's bars to the downside are much, much larger than those of the rally bars from the Mar 2009 low.
(4) Macd's lower high and lower low on this monthly foretell the trend.
(5) The right shoulder is close enough in height to be considered a clean pattern overall.
(6) Not shown is the volume which as you've already heard me say mannny times, is meagre. This total drying up of volume is a requirement for a H&S pattern.
(7) On this frame, we await the breaking of the neckline.
(8) Once broken Dow targets are
4000 ... = uptrendline from 1974
2325 .. = previous 4th wave of lesser degree
615 .. = previous 4th wave of lesser degree
MY call is 615 is the final destination!
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Interesting call, however I think these kind of predictions should have happened months ago with the downfall of the global economy. Everything right now is being propped up to avoid such an outcome but remember they can only print so many worthless dollars to prop up a broken economy. Something has to give sooner or later, there is still plenty of stress on the system that many think has been relieved. Only fools think the economy is in a "V" shaped recovery meanwhile its still in major trouble.
so...market will drop, if it doesn't go up first?
Here they come. HERD wrath.
I most certainly am looking for the 2nd Great Depression. Count on it!
I'm prepared for it, you're not.
Our way of life? 3 major wars, can't win a single one, millions of innocent people killed on a lie - no baby, I had nothing to do with any of that. And you clowns? Feasting on credit like there was NO tomorrow, 2 steps away from the Salvation Army, EVERYTHING you have is from money you NEVER had!
What, me be apart of your 250-million strong gang?
SMD. No thanks!
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