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Projecting a Dow top on 17th May 2017. Show me a cycle that works as well as this one has since 2009.
Update of a chart I published last year, nothing has changed just more price data. top 17 May 2017?
50-DMA and rising trend line both offer support at 2429 levels.
The RSI shows a head and shoulder breakout
The DMI is also showing a bearish crossover.
Breach of 2429 would expose support at 2338.
I'm expecting the Dow to drop from here to the end of Jan based on this updated 17.6 week cycle chart.
Updated chart first published in late Sept 2016
Medium 17.6 week cycle shows a low 13/9/16 and 10/1/17. If the orange uptrend gives way then we have targets at 17850 or 17100 (preferred). Long term 17.6 year stock market cycle is looking to turn mega bullish in 2017 until 2035. Worst case is 15200.
Dow Jones index has broken the previous high 9 weeks ago, and for the last two months index has been moving side way, a sigh of sell off high stock in high price level - the longer the range, the deeper the drop, once the sell begins.
But Elites won't be too obvious so that the world could jump in and take that piece of pie. Therefore, High and sharp movement ...