What does the show Seinfeld and the Championship Chicago Bulls have in common? They left on top.
The market wants to keep melting up so the markets will until all the buyers are gone. I predict this rally will last until the election and be followed by a massive down trend. This current rally has legs based on Gov stimulus and Fed intervention not fundamentals...
Watch for a break down within the next 10 trading days.
Volume is sliding lower because bulls are nervous to add additional long capital at these levels and most shorts have been getting squeezed out.
Today is April 9th 2018. As I am writing this the DJIA is up over 400 points @ 24,352. This after a huge sell off on Friday 4-6-18 which marked the first day in sub wave 3 of wave 3. I expect a lot of down movement in price this week so I will be shorting the DJI via SDOW (3x leveraged short) starting before the end of the trading day.
As always your comments...
It appears that the DJI corrective triangle should be coming to a close Monday or Tuesday of next week. Once the Triangle is closed I am expecting a very steep decline to the first target.
This is not investment or trading advice.
As you can see the DJI triangle corrective pattern is coming close to an end. Following the "e" point on my above shown chart the DJI should fall sharply.
Your anticipated thoughts and comments are greatly appreciated.
