Ive SHOWN this GRAPH a few times in the past few months
IT SHOWS A MASSIVE 29% LOSS in 4 DAYS starting April 20, 1940
THEN bouncing around off the LOWS for a few more days, bottoming on APR28
SUMMARY
IMV,
WHEN CONDITIONS ARE optimum for this, it can come out of the BLUE, or so it seems.
At that time there was a correction in progress from the Prior year with a peak on October 11th, 1939
MY conclusion ~~ The mkt gyrated in a NARROW range for almost
9 months before CULMINATING on the above dates
Daneric mentioned we could be waiting for a nasty E wave, and as such the mkt could plunge as low as the spx 1100 area, but IM NOT PROJECTING that at all, So don't come back and Exclaim-
YOU SAID SO.
THEREFORE- it is possible, but not probable.
9 days starting July 5th ends on JULY 15th as IVE mentioned several times, & IMV, no matter
WHAT THE LOW price level, that should be the BOTTOM of WAVE [1],
with a possible retest on the 19th, -THUS setting up the NEXT rally to that MID August wave [2] peak.
More Later
Jay
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