Joe Dinapoli wrote in his book from 1998 on page 85 : "If we get a monthly Double RePo sell on the Dow or in the S&P , say good-bye to stocks!"
This happened two times after his words and as you can imagine brought him much fame and he also needed to answer a lot of questions, too ;)
The DRPO is defined as a close below, above and below the 3x3 after a good amount of thrust has happened in a market. The last part is VERY VERY Important as "Thrust" is something that cannot be measured so good by computers and thats why this pattern has worked, is working, and should continue to work for some time to come!
Joe defines the Thrust as "a minimum of 8 but better 15 candles of thrusting market action"
Well, as you see we had plenty of this since 2009/2011 and here we are again today.
Since 21 days we have a CONFIRMED double RePo sell on this chart, on the monthly DOW and on the monthly DAX!
I made this post on Twitter on 2nd February https://twitter.com/xSheltemx/status/694661865553686528 but boy, even I would have not thought it would go so fast ...
The chart should speak for itself, I will post another chart where I show the invalid point of this Double RePo on a daily basis, as I expect the area to get tested before the real fall to 1600 starts ... So you still have a chance to join the party and make a lot cash!!
Follow me if you like this and want more...
Important!! There is a target above at 2050 and a hit of that target in March would NOT destroy the setup!!
The Double RePo stays valid until we get a MONTHLY CLOSE ABOVE 2000!! :)
There is also a quarterly DRPO forming right now, I will try to show it when I have a bit time but not right now....