BradMatheny
Short

DJI August 19 Top Setup - Be Prepared!

DJCFD:DJI   Dow Jones Industrial Average Index
My expectations are that earnings will come in much weaker than Q2 2018 because of the trade wars and consumer demand decreases. Yes, there will be some positive news, but I believe the markets will change dynamics based on forward guidance and Q2 earnings data, rotate lower and setup a sideways pennant formation that will eventually setup an August 19, 2019 market TOP.

After this Aug 19 date, I believe the US stock market (and global markets) will likely fall 15 to 20%+ setting up a bottom near the end of 2019 or into early 2020. This move is very unexpected by the global traders. Recent psychological levels ($300 SPY , $3000 ES) have already been hit. I believe these levels were critical to the setup for this next leg lower.

I believe skilled technical traders only have about 30 days to prepare for this move and I believe the move lower will initiate in late August or early September.

I urge all skilled technical traders to plan and prepare for this move.
It sure got back up PDQ; seems like an overbought condition with low volume and weak RSI. Could be topping, maybe just another stepping stone.
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The day of truth is finally here! Have been reading your analyses and predictions for today, will be exciting to see if it plays out.
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Fib time suggests rotation after new ATH on or about 3 September. TYVM for posting.

Can crack at any time now, risk is at an all-time high. Still expect frantic blowoff buying panic before the break. There is no fear now; just complacency.
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BradMatheny DaddySawbucks
@DaddySawbucks, I believe the new ATH is set already. We could see a bit further upside on early earnings over the next 10+ days, but I believe we are very near the PEAK right now.

I just posted an article about the risks to the market and how Q2 and Q3 global earnings/economic are expected to be substantially weaker than the past 24 months. If the Fed does act to lower rates, this could be another issue for the market to contend with in a devaluing process.

I like your Sept 3 call, but I'll stick with my Aug 19 date for now. The reality is that anytime between Aug 15 and early Sept is a very likely date for a breakdown move. Want to know when it will end and what to expect over the next 3+ years?? I already know what should happen based on my predictive modeling and super cycle research.
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DaddySawbucks BradMatheny
@BradMatheny, Nice. Agree we're splitting hairs on predictions. Market seems to move in accelerated non-linear manner- algos drive it wildly, days worth of trades occur in mere hours, weeks seem like days.

If it rolls over this week then we get confirmation of ATH intraday Monday. Miht well get 'buy rumor sell news' on Fed decision date 31 July. Patience.
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DaddySawbucks BradMatheny
@BradMatheny, Looks like a TRiStar formation in the making, confirm Wednesday. I'll graph a post if it confirms; >80% reliable bear signal.
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