Market forming triangle meaning continuation to the downside
- Thread starter Port1385
- Start date
Your giving too much love to the bottom line. It doesn't have that steep of an angle, theres only 6 point difference between first low and second low. But, thats just nitpicking.
The events that will trigger this are the following:
- GM, F and MS declaring bankruptcy (all at once). Im expecting MS to go under right after F and GM.
- Standard and Poors downgrades the credit rating of the United States
- Iraq and Middle East flare up as troops are hastily pulled out.
- Other concerns such as Pakistan and India flaring up. Terrorist attack is ripe for happening now.
The true bottom will come towards the end of 2009 when unemployment is somewhere above 10% and we cannot take anymore. That will be at 670 when everyone is screaming and crying and cant take anymore. Then that will be the bottom, the true bottom.
- GM, F and MS declaring bankruptcy (all at once). Im expecting MS to go under right after F and GM.
- Standard and Poors downgrades the credit rating of the United States
- Iraq and Middle East flare up as troops are hastily pulled out.
- Other concerns such as Pakistan and India flaring up. Terrorist attack is ripe for happening now.
The true bottom will come towards the end of 2009 when unemployment is somewhere above 10% and we cannot take anymore. That will be at 670 when everyone is screaming and crying and cant take anymore. Then that will be the bottom, the true bottom.
