"October. This is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August, and February."
How about a December crash? If this model plays out Santa will by cryin'.
Notice rejection this week at TL. Downtrend continues. "Pie-in-the-sky" forecasts of Sand P 3000 and DowJonzed 30,000 are not likely at this juncture. Bull traps!
Retracements have been between .382 - 0.50, notice the Fibo bars (note arrows). If we enjoy a similar pattern on the next bounce could climb back as high as 25,500 or turn back sooner at 24400. There's a short entry window 100 pips wide.
If a five-wave complex down wave emerges the pattern could look like this projection, and a 4th wave might give another bounce before capitulation. Or not.. maybe it just breaks. There seems to be no bottom in this market, every day is a chance for 600-800 pip selloff. It's getting closer to real panic in my humble opine.
One day soon will go off 2K... GLTA
This ain't advice, it's just a funny looking chart with mostly random squiggles, they probably have no meaning, invest at your own risk!