CURRENCYCOM:US30   Dow Jones Industrial Average Index
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The Dow tracked down/sideways this week in a consolidation move.
We expect another up move this week which could well be the top.
Parabolic rallies such as these are extremely difficult to predict their end.

A fifth and final wave like 2008 will morph and extend beyond even normal markets.
Of course this is nothing normal, just a farce.
Quiet and void of any negative "news" or impact event!

Markets may have topped but the sentiment and action say otherwise..expect another rally.
Patience will be rewarded to the bears.
This is a classic throwover which will terminate no doubt.

Sit on the fence and wait.

Good trading!

Comments

I will bunker next to you waiting for bear offense :)
Thank you
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Hi, what is a good point for bears to enter?
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@TK_71, Technical analysis in the Dow tells us we are very close to a major top.
This can take a few more weeks of action to finish off a pattern which took many years.
Using trendlines and wave counts can help navigate...the rest can be instinct and experience.
We are sitting on the fence and waiting...watch out for our ideas.
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@Fractal777 and up and up it goes. most certainly seems Neverending...
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Fractal777 offgridder
@offgridder, Yes...and that's what may catch out the participants.
Perhaps a presidential event?
We are waiting and positioned heavily in precious metals.
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TK_71 offgridder
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Do you think a bigger correction is coming along. The recent drop was absorbed easily by the bulls. Dow still looks positive up trend.
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@TK_71, Still in a strong uptrend, until the red line breaks properly, this is a bull market.
Some cracks appearing though...this week will be telling.
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TK_71 Fractal777
@Fractal777, The redline is now around 33000 to be on the tip of bear market. yes I agree still shows high uptrend, but not excited to take a long position at this level.
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@TK_71, 33,000 broken decisively will usher in a sell off.
Just too risky to go long...anything out of the blue!
We instead are heavy into PM's.
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