Great foresight, quite incredible really. Thanks for sharing education on this pattern.
What are thoughts on how much time we spend here and now at target 3 and when would we expect target 4?
DylTrig
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Thanks @scua541, Target 4 is actually higher than I posted in this chart.... My 4th target is at the point of "C" (Not "A"), it was an error when i posted the chart originally.... Looking at possible support locations around "C" I am eyeing off 3,500 very closely. Duration to get to targets from this point onwards will greatly depend on fundamental factors IMO.
If this sell-off morphs into an avalanche of defaults : Recessions / Depression which is looking more likely as time goes by from my perspective we could be in for an extended bear market.
Central Banks are throwing everything they can at this. Once the bear market has played out & sentiment changes to a positive outlook (& inflation expectations finally return) I believe we will see the most aggressive Bull market of all time. Deflation fears need to be tamed first.... Patience is key.
pcevo53
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Wow! interested to learn more about how this view on the market was formulated. Ridiculous foresight.
Brilliant chart! I will defiantly be following you after this. How long before the 4th target gets hit??
kitdoctor
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This is interesting. I follow the mathematics that lead to the end result 2190/0.618 x 1.272 = 4509 but what is the underlying concept that is evident here? Yes 0.618 is the Golden ratio and 1.272 is a common extension but what led to their use in the way you have applied them?