Significant BEAR market preliminary target is 61.8% at 18,104 = corona virus wave Dow Jones crash low. There is just no way Dow Jones will not go there first, regardless of interim rallies. In Bear markets rallies are furious - all normal operation - but they all get retraced. I expect the final major leg of this downturn to end in Wave (a) at March 2009 low vicinity. Why?
“The main purpose of the stock market is to make fools of as many men as possible.” ― Bernard M. Baruch (guilty ) “Something that everyone knows isn't worth anything.” ― Bernard Baruch (guilty of being opposite to the CROWD esp. at critical junctures) Stop trading? I invest to the downside!! Who ever heard of such a thing?! Easy to be a genius in a bull market. But a BEAR market esp. one of this caliber? What caliber of bear market? See video for on the ground happenings ..... worldwide to follow soon ..........
Dems are in such bad shape already they're done for. I've already canceled my subscription to the resurrection and sent my credentials to the House of Detention. I would however still like to take AOC to dinner. The BEAR market will be over when 5 waves down on Monthly are completed. We have not even finished ONE. It will also be over when all the excesses have been cleaned. Then of course there is the ultimate test: capitulation! As long as gurus and players and traders keep calling a bottom it is the best evidence that there is NO bottom, not even close. When a real bottom is approaching participants will have been long gone and abandoned the stock markets and financial markets in total disgust swearing to never come back. Loooooong ways to go to the downside.
When both trendlines go bust for Shanghai Composite Index, the whole world will get the killer tsunami wave. Nobody can escape this. See post #54 https://schrts.co/frpRfBKc
For the religious and sacrilegious types note how nicely Shanghai is following my A-B-C target grid. Wave C = A at 715 aprox. https://schrts.co/gRNaqypa
See third last para in quote (Killer Wave 3 or C is on the verge of beginning NOW); Today is July 17, 2022. I believe Wave 3 (or C) is underway now. I need a few more days of observation to confirm this. Why a few more days? Because Wave C is the domain of gaps i.e. gap ups galore. TA is waaay quicker than any News outlet - these boys are catching on now, as usual AFTER the fact. TA tells one waaay in advance sort of like a Leading Indicator. So why are all technicians/traders broke including me? Because nobody in his right mind would ever think that a squiggly line on a logarithmic chart has stunning power to foretell. Hey, I don't mind
For the record ................. THEY scoffed as they partied and danced and dined in crowded places/spaces/venues maskless with not a care in the world, having near unanimously concluded that the Virus Pestilence was over, gone for good, bested and defeated and get this, the best part of their collective thinking = that they survived it and have lived to tell the story of it AS I watched this glee in horror, the thought of the HISTORIAN who described the Great Depression, came to mind ................ Not an exact quote ........... It came with a surreal slowness and created considerable damage but it then softened into the RALLY for a few months which lead the populace to believe they had survived it and come out conquerors and lived to tell others of it - but what they did not know and could not know, which only a Wave practitioner could know, is that it had only just begun. These things go in Waves and the first one is only the warning shot. Then comes the recovery wave aka Wave 2 and then when everyone is back on board partying and all their defenses are down, Wave 3 comes in, reverses Wave 2, totally retraces all of it and then shoots past to a minimum of 161.8% of Wave 1. Minimum. Do masks help? I don't know. But I will wear one Does distancing help? Yeah, for sure! Vitamin D? Yeah, could be I don't know doodly about how powerful this thing is but I do know full well MY limitations.