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Saturday, December 14, 2019
MTU Weekend Ed. - Triangle Apex (12/13/19 close)
Time wise, SPX is at the apex of a potential triangle (grey lines), although it's debatable whether it is a triangle.
US indexes are struggling to advance. Not much net gain since July.
Just on Eco Cycles I note that we are now at 90 years from the 1930 peak. 90 yrs prior was the 1840s when a deep recession started. And 90 yrs prior to that the 1750s werent that flash either or 1660s prior to that. So we have to wonder if the 2020s will be recessed given the lofty peak levels at the moment and orthodox EW wave count.
If the mkts are at peaks now (& EWI was noting the large foreign buyers of US stks levels yesterday that correlate with tops) then this 90 yr cycle may be relevant.
The count from 1932 needs reviewing.
The older stk components of the DJIA are not showing bullish patterns. Its being held aloft by the newer ones which appear to be making late tops.
The bulls however say the sky's the limit but can a very strong run (note NASDAQ) go on for over 10yrs (from 2009) without a sizable correction ? The acid test will be the next 3 - 6 mths as to continue up for the next few years it needs to advance solidly in that time frame.
hej man where's this triangle, i can't see it. Can you mark this triangle properly, please.
ReplyDeleteUS indexes are struggling to advance. Not much net gain since July.
ReplyDeleteJust on Eco Cycles I note that we are now at 90 years from the 1930 peak. 90 yrs prior was the 1840s when a deep recession started. And 90 yrs prior to that the 1750s werent that flash either or 1660s prior to that. So we have to wonder if the 2020s will be recessed given the lofty peak levels at the moment and orthodox EW wave count.
If the mkts are at peaks now (& EWI was noting the large foreign buyers of US stks levels yesterday that correlate with tops) then this 90 yr cycle may be relevant.
The count from 1932 needs reviewing.
The older stk components of the DJIA are not showing bullish patterns. Its being held aloft by the newer ones which appear to be making late tops.
The bulls however say the sky's the limit but can a very strong run (note NASDAQ) go on for over 10yrs (from 2009) without a sizable correction ? The acid test will be the next 3 - 6 mths as to continue up for the next few years it needs to advance solidly in that time frame.
Mkt Man