Stable - A word of the past.
I am strictly a pattern trader and for the last few years I personally have always done best recognizing when things goes south. This probably has to do with the emotional sell-offs leading to more accurate patterns.
It is scary how perfectly this current DJIA chart matches the bear market of 2000 - 2003. If you take a look at DJIA back in 2000 on a weekly chart you'll see what I am talking about. The only real difference is how drastic the drop was then compared to now from the all time high. Of course, the world is different now with media in everyone's hand allowing for further panic = steeper, faster, longer drops.
If history repeats itself, even for a little, we will see a continued bear market.
Bought into DXD end of last week, will be paying close attention for a signal of a bottom on DJIA to close my DXD postion.
I am strictly a pattern trader and for the last few years I personally have always done best recognizing when things goes south. This probably has to do with the emotional sell-offs leading to more accurate patterns.
It is scary how perfectly this current DJIA chart matches the bear market of 2000 - 2003. If you take a look at DJIA back in 2000 on a weekly chart you'll see what I am talking about. The only real difference is how drastic the drop was then compared to now from the all time high. Of course, the world is different now with media in everyone's hand allowing for further panic = steeper, faster, longer drops.
If history repeats itself, even for a little, we will see a continued bear market.
Bought into DXD end of last week, will be paying close attention for a signal of a bottom on DJIA to close my DXD postion.
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