Dow Jones Trend Eerily Similar To 1945-1966
Going over past bull trends, I believe the current bull trend is in lockstep with the 1945-1966 bull trend. Not the 2000 dot com bull trend.
The blue ghost bars is the trend from the 45-66.
To me, it is lining up almost like a mirror.
IF, this is the case, then the market is in a topping process before a dump down to take out October 2022 low before a major rip higher to continue the trend.
I know hindsight is not the same as current price action but it will help me to identify good buying points.
It looks like to me that price will return to the 0.68 Fib level after the 2019 crash back to 28,000. From 28,000 to 60,000 will be a 120% gain.
In order to continue higher, it must first drop lower to create the orders it will need to fuel the move higher.
The blue ghost bars is the trend from the 45-66.
To me, it is lining up almost like a mirror.
IF, this is the case, then the market is in a topping process before a dump down to take out October 2022 low before a major rip higher to continue the trend.
I know hindsight is not the same as current price action but it will help me to identify good buying points.
It looks like to me that price will return to the 0.68 Fib level after the 2019 crash back to 28,000. From 28,000 to 60,000 will be a 120% gain.
In order to continue higher, it must first drop lower to create the orders it will need to fuel the move higher.
Comment:
Something I missed was the lows suspended above the 0.68 fib level and the gap on the weekly chart
Comment:
The October 2022 low did not fill the gap and instead left price suspended above it for a possible return later
