ELLIOT WAVE: ABC CORRECTION - DJI WEEKLY CHART
A snapshot of the weekly to date, June 23rd, 2021. I am under the conviction that we are looking at the beginning of the stair-step-down. I'm keeping an eye on the daily also, observing it for a tell. As it stands there are two scenarios I see playing out - as follows:
As the esteemed Robert Pretcher states: "...for inflation to occur we need all of these three things to happen. Gold to decline, bonds to decline and the US dollar to decline".
Keep this in mind. Take care and stay safe.
NOTE: Not financial advice.
- A slow decline then a grand finale December 2022
- A more rapid decline with a crash September 2021
- I'm busy with post graduate studies, so I may provide charts to back up the above statements if I have the time.
- Either way, it is my belief that we are heading for a deflationary recession (or worse).
As the esteemed Robert Pretcher states: "...for inflation to occur we need all of these three things to happen. Gold to decline, bonds to decline and the US dollar to decline".
Keep this in mind. Take care and stay safe.
NOTE: Not financial advice.
Comment:
Correction: Should read ABC Pattern, not Elliot Wave, I will do that on my next chart. Please excuse.
