So armstrong in his latest member blog post is offering a new 1500 per year subscription to track the DJIA which will include "video ongoing updates as needed for the next year".
And he saying that if August bar does not exceed July then a risk of a "decline into the fall"
Sounds like by him offering this new membership he is expecting a sharp move down in DJIA into 2020, and maybe this is the long talked about slingshot
!!! which would be the buy of the centurY ?
And he saying that if August bar does not exceed July then a risk of a "decline into the fall"
Sounds like by him offering this new membership he is expecting a sharp move down in DJIA into 2020, and maybe this is the long talked about slingshot
!!! which would be the buy of the centurY ?This is what annoys me the most about him. For months he has been saying how the Dow is in a consolidation and no new highs until 2020. But now he is pumping this 27K and not a word of 2020. Sorry but I didn't listen to him and saw this coming and added more position in my DIA, SPY and opened a new position in QQQ. Yes I anticipated base off of the weight of the evidence. I'd be happy to post my buys from about 1.5/2 weeks ago.
More importantly is the fact that 27k was a major resistance from 1/2018 which has created a triple top and the implications of a break is big. The longer the resistance(1.5 years) the greater the break/ascent. This, plus the fact we have a Head & Shoulders pattern which is normally a continuation pattern. On any breakout there is always a retracement, 27k in this case, so a decline into the fall is not unusual. Oh and the projection on price is from the Dec/18 low is 32,000 and from the first support around 24,000 it's 30,000. This is all TA, so no mystery.
So, we have resistance at 27k for 1.5 yrs, triple top and a H&S pattern that's usually a continuation pattern. Plus indicators with room to move. Lets not forget millions of traders looking at the same charts and TA. To me this was a buy signal but didn't go to heavy but will buy more on the retracement. Which, if in all the excitement you missed the break is a good entry point.
I'm by no means an expert but this works for me and is available to anyone who wants to use it. Just some observation and actions I took. I guess my point is this could all be done with some research, training and willingness to take the hits(losses) for hardly any cost. In all the years reading MA, buying 1 report and attending 2015 WEC I always fall back on my charts and TA to buy and sell.