Here's the Mini Dow chart.
We're at a minor line now.
I made a little money this week, a grand or so Intra-day day trading after President Biden's talk about how great everything was. I felt the market would drop during and after that so I shorted a few contracts on various indices. Quick bucks!
My fear is with fundamentals and rising interest rates. Especially now that gold and silver are all of a sudden back in favour. Appreciate your thoughts.
We will see a move down here shortly...It will be a corrective move due to the lock downs. This will be the time to load up on your Dow stocks. You will possibly see a move to the 30k area for a worst case scenario. The EU and eastern countries are in a lot worse shape than the US, any interest rate hikes will start the flow of capitol to increase from the EU to the US. All the countries that use our Bonds to supply their country with a money supply will be really hurt bad as the rates rise. It will be devastating for them and there will be defaults because of it. You would be wise to follow them into the US market for this move if you are not already in it.
The Dow will double in 10 years because of it, because the Bond markets are 10 times larger than the equity markets. As their bond markets crash that equity will have to go somewhere... The US is the only safe place to put capitol...but that will shift to China when it is all said and done.
Sorry for not seeing your's and David's reply sooner...I'm still getting use to the site.
Thanks for taking an interest in my posts...
I will try and do that. I'm swamped today though.
Here...I'll give you a break and show you. since you've been at it pretty hard lately...I installed a green line under the multi pivot steel blue line and turned on one parallel. Action - Reaction
The crimson channel is a new channel created by the isolated high Oct. 26th with the low of Sept. 20th and anchored at the Oct.1st. low. Any pull back you would look for the channel to contain it...any move above the top channel line would be very bullish. Anytime you see price hit a line it has the possibility to reverse direction or fall out of the channel for a change in trend.
The steel-blue channel is formed by the three pivots 6/21, 7/19, 8/19 It's not only showing directional flow but also time...Andrews rule on a multi-pivot line, which is made up by three pivots will also give you Action-Reaction...What happens above...also happens below. If you take that multi-pivot line and and set the Parallel Extensions of that line to to 1 on the Preferences Tab you can see where ends...draw it out and let me know what it tells you. Set the anchor of the multi-line at June 7th
So, what's this chart telling you specifically?