Where does it go??? Candles ould easily retest OCT highs, a common bear market scenerio; more likely, does a retest of the years low. Its a bear trend, you know
Yes. Often it is best to go to where the other person is and work from his vantage point and, maybe, if possible, make an argument that will be helpful to that person. In this case the person posted a chart and if it is used a scale will have to be added by this person if and when anyone discusses the future with him. Anyone who deals with the future usually does have himself equipped to do the associated work. I'm particularly oriented to Danto's (Columbia, American History Dept) philosophy of history, symmetry version. Most people who checked the underpinning of my 2008 projection in December 2007 could see this orientation that I have. At this point in November, last year, a year ago was far into the future for most persons. A five year projection monthly for two years and quarterly for the next three years is most common for me, however. Sector Rotation is commonly done this way and the top projections usually are in the 250% per year category. Then come the doubling level and the 60% level, etc. Obviously, every year is the same but the bandwidth of the categories shifts to and fro. Why would a person ask a question about the future and not include his preferred scaling? The answer is that he doesn't care about it. What did the person care about? Just consult the typical phishing lists that are common.
Jack, this is just a quickie, as the OP is not looking for help, rather heâs asking how do experienced traders see the future PA unfold. Doesnât even matter precisely how far ahead â most of us are going for the next 6 months approx. So you donât need to do sector rotation explanations or even explain anything. Even a squiggly line on a chart will do and let it do the talking. Come on Jack!
Sorry I wasn't responsive. This is a very very great time to be making money in the markets. It is going to continue at this pace for quite a while. On a daily basis it is easier to give in to using a scale that is compressed rather than sticking with a personal mental calibration on scaling (which I prefer as a sports memory level trader). My existing chart almost covers the period you mention. I have commented on February as well. The election didn't change anything. That covers 5 months. This thread seems to be a non starter.
Think it's between you, BBison and me but you're a bit short on your timeline so may get eliminated. Winner gets 3 months free subscription to ET. Mandel, your 10:1 odds on a push up - you're getting charged double for ET membership and all posts have to be approved by Jack before posting.