goodguy
做多

Follow up on my long term view of the Dow Industrials.2 charts.

DJ:DJI   道琼斯工业平均指数
9 months ago I posted a long term chart (link below) suggesting the top may be in using a Fib fan (one fan that I have tried where most of the major turning points actually seem to relate to the fan). In that chart I showed another option of continuued up move. That up move which we are in now seems likely to me could go up to the next fan line level which is currently around 22000.
Earlier in my trading I used a lot of EWT which by the way when used alone is not very helpful (at least in my hands). It's form however is often visable in retrospect. So here is my current view of the EW count that I see. Notice that the "3" waves at all three levels are sideways consolidating triangles.
The upper channel line on this chart is also around 22000 +/-500.
I will post another chart to go with this. These may not help you trade but hope you enjoy it!
Stock market is always bullish in the long run. But for now, we are heading to another big bubble for sure! Take profits when the market runs into unbelievable just like the year of 2k.
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goodguy ewtrder
@ewtrder, I agree that there is touble ahead. Likely very big trouble. Thanks for the feedback.
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According to inflation, market always going up in the long run! Every hard crash is a super cycle buy! The weakness of the wave theory is the wave can be expand infinitely!
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Also you should take inflation into consideration. Here is DOW log scale taking out inflation.
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@PKA, thanks very interesting. Can you tell where the top of the channel is terms of the Dowi number level?
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I agree with the upside, but a drop that large thereafter would mean the world is ending.
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@PKA, It would take a long time. But your right. See comments on the 2nd chart I just posted. The world debt load at every level is HUGE. It cant go on forever, esp wtih more and more countries paying folks not to be productive.
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