Please see my 12/28/19 post "Long-Term Forecast for 2020 and Beyond." That post illustrated a fascinating web of 89 - years of Fibonacci time cycles that pointed to 2021 as a year in which there could be an important turn. This forecast method does not predict tops or bottoms, only potential turns. Price action into the turn zone determines tops or bottoms. The DJI rallied into 2021 and that implies a major top. The coordinates for this forecast used yearly coodinates and can only target the year, not when in the year. To get more specific requires an examination of the next lower time scale - in this case monthly.
Several of my post have speclated that a multi-year Elliott five- wave impulse pattern was forming from the March 2009 bottom.
The March 2009 to April 2010 rally is the presumed Primary wave "1"- boxed of the five- wave impulse pattern.
There's usually Fibonacci price/time relationships between waves "one" and "five".
The March 2009 to April 2010 was a Fibonacci 13 months.
From March 2020 to December 2021 is a Fibonacci 21 months.
Creating a Fibonacci ralationship of 13/21 = .618 - the Golden Fibonacci ratio.
Note the monthly RSI now has a double bearish divegence.
Very short-term the DJI is vulnerable to a one or two week decline, which have been explained in my more detailed writings.
If US stocks rally into December 2021 it could be the termination of the secular bull market since 2009.
Mark
Several of my post have speclated that a multi-year Elliott five- wave impulse pattern was forming from the March 2009 bottom.
The March 2009 to April 2010 rally is the presumed Primary wave "1"- boxed of the five- wave impulse pattern.
There's usually Fibonacci price/time relationships between waves "one" and "five".
The March 2009 to April 2010 was a Fibonacci 13 months.
From March 2020 to December 2021 is a Fibonacci 21 months.
Creating a Fibonacci ralationship of 13/21 = .618 - the Golden Fibonacci ratio.
Note the monthly RSI now has a double bearish divegence.
Very short-term the DJI is vulnerable to a one or two week decline, which have been explained in my more detailed writings.
If US stocks rally into December 2021 it could be the termination of the secular bull market since 2009.
Mark
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.