This is what Socrates/MA said about the DOW in the 2018 Year End Report:
"The US share market is still trying to figure out which way to move next. As I have stated number of times, ideally after 8 years up in 2018, there should be a correction.
The formation of the high in 2018 was not indicative of a bubble top since the Nasdaq peaked in August, the SP500 peaked in September and the DOW in October.
No major bubble high has ever formed with such disparity."
In the end the conclusion was:
(Please note: in 2018 the DOW closed at 23.327,46)
"The 2017 closing was 24719.22 and the 2017 high was 24876.07. A lower closing for 2018 will warn that the market is entering 2019 weak.
We do have a Monthly Bearish reversal at 23344 following 21600. The quarterly bearish reversal lies at 22416 followed by 20378. While there remains a risk of retest of support in January 2019, the scope of this decline will hinge on the Monthly and Quarterly Bearish reversals. If these Reversals hold, then they may become the target for support in 2019. Yearly support in 2019 seems to be lining up at 22600"
This Year end report is dated December 16th 2018.
So we elected the monthly bearish in December 2018 of 23.334. The DOW did not test the next reversal (21.600) as from here we went straight up.
How can anybody say Ray Dalio missed this rally and MA predicted it?
Please let me know if anybody can explain that MA called for a rally.
Exactly.
His comments on the private blog (when I still had access) clearly stated that he didn't expect December to be the bottom. After the rally was gaining more and more steam, Armstrong kept talking about retesting or correcting and being very cautious numerous times. After this (and a historic 25% rally) I really had it with Armstrong, Socrates and his bullshit. It was the final proof for me that his system does not work. Not only were his readers missing out on big gains, they were probably also losing money with shorting.
Then he tries to diss Dahlio for missing the rally (okay, what the hell?) and says that his 21st November 2018 ECM date had correctly predicted the correction. That really sounded like a delusional conman.