The next likely resistance point for the DJIA is between 15,331 and 15,342. The highest resistance point for which this count will prevail is 15399. The attached charts are not in the keyed fractal colors, but the degree should be plainly obvious from their positions. If the market hits resistance at the level specified above, I am expecting a progressively moving bear market to ensue and retrace at least 14.4% of the bull move from 2009. Retracements could potentially go much deeper, returning us to a mid 2010 market price in the DJIA and related indices. This however remains to be determined. Note the far right time line as the right wall of a golden rectangle relating the movement of what I am counting as the minor wave 5 (shown here as red extensions) to the remainder of the bull market move from 2009, where the entirety of the move represents 261.8% of minor wave 5. Thus, we should see a minor pull back within the next 2 days, and a final thrust to end the week.
This purpose of this blog is to document my own education in the study of Social Mass Systems and Behavioral Finance. Please read the disclaimer below. THE PREDICTIONS AND ASSESSMENTS MADE ON THIS BLOG ARE FOR EDUCATIONAL PURPOSES ONLY. DO NOT TRADE OR RELY ON THESE FORECASTS OR ASSESSMENTS. NOTHING POSTED ON THIS BLOG CONSTITUTES FINANCIAL ADVICE AND ALL INFORMATION IS POSTED SOLELY FOR EDUCATIONAL AND ARCHIVAL PURPOSES.
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