CAT does great when the global economy is booming. Not so much when it's not. As such breaking this key area of this structure suggests we are near a recession.
As I posted before with FEDEX
and many more that are not published here, there are many suggestions we are heading for a recession by market participants.
CAUTION!
Baltic Dry Index points to smth ugly in global trade to happen. I count move from 2008 top to 2016 bottom as wave circle A. Move from 2016 trough to 2021 peak as wave circle B. Wave circle C is ahead. Assuming C=A extension the bottom should be expected somewhere in the 140-200 range, almost 80-90% drop from the current levels.
They try to call it the new global order, or the future world order, or to avoid naming it at all.
I like to call it the ❀~❀~❀~❀~ New World Order ~❀~❀~❀~❀ because this is how the conspiracy theory guys call it and it amuses me :D
Go to the end of this idea for my predictions.
Trump recently made a very interesting statement: We need to work on income inequality...
The earning season came to an end and the market failed to score new highs even with such good results. Now the market only moves by global trade. On Friday, thanks to the comments of Warren Buffett, the market managed to complete its wave E of the triangle. Which leads us to expect a fall of US30 to areas of 20,400.
