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Saturday, February 13, 2021
Weekend Update - Time (2/12/21 close)
The potential expanding DT is still tracking and is close to satisfying the minimum time requirement.
Amazing to see how the market has recovered so much from March low 2020 and almost heading to 4k magic number. Don't know what will be the trigger for a sell off to atleast make people rethink about just maniac buying. Any input is appreciated. Thanks for the blog and regular updates. Gone are the days when correction or good selloff used to be healthy part of the market :)
Some cycles appear to out of usual alignment which is causing problems for reading waves and target prices on countertrends other waves. This has gone on since 2008 possibly even 2003 depending on what view you take.
Note that NASDAQ has doubled its value from the around 7000pt low last March. That is usually a resistance point.
Also the LT 30 yr NASDAQ chart still shows a blowoff the past few years - almost vertical moves like that are never sustained - it will eventually collapse to a much lower level. That is why it is dangerous to be in stks in that or other index sectors showing such patterns.
What I said about NASDAQ doubling its value note how the DJIA stalled in 2011 at around 12800pts when it doubled the 2009 low of around 6400pts. It was only temporary but a sizable correction ensued from it.
Doubling the DJIA 2012 lows give around the peak in 2018 - it went ab it over it but stalled for 2 yrs.
And more importantly doubling the DJIA Aug 2015 & Jan 2016 lows of just under 16000pts gives where the price levels are now just under 32000pts. (Crunch those numbers for me MTU and tell me what the exact figure is for doubling those 2 lows).
In reviewing it the DJIA Aug 2015 to Feb 2016 period there are a cluster of low days that average around 15750 to 15800pts. Doubling those would give around 31500 pts. You don't necessarily take the extreme lows in this type of calculation.
Note UKX
ReplyDeleteAmazing to see how the market has recovered so much from March low 2020 and almost heading to 4k magic number. Don't know what will be the trigger for a sell off to atleast make people rethink about just maniac buying. Any input is appreciated. Thanks for the blog and regular updates. Gone are the days when correction or good selloff used to be healthy part of the market :)
ReplyDeleteThe MT time cycles will flip it over.
DeleteSome cycles appear to out of usual alignment which is causing problems for reading waves and target prices on countertrends other waves. This has gone on since 2008 possibly even 2003 depending on what view you take.
Note that NASDAQ has doubled its value from the around 7000pt low last March. That is usually a resistance point.
ReplyDeleteAlso the LT 30 yr NASDAQ chart still shows a blowoff the past few years - almost vertical moves like that are never sustained - it will eventually collapse to a much lower level. That is why it is dangerous to be in stks in that or other index sectors showing such patterns.
appreciate your thoughts
ReplyDeleteWhat I said about NASDAQ doubling its value note how the DJIA stalled in 2011 at around 12800pts when it doubled the 2009 low of around 6400pts. It was only temporary but a sizable correction ensued from it.
DeleteDoubling the DJIA 2012 lows give around the peak in 2018 - it went ab it over it but stalled for 2 yrs.
And more importantly doubling the DJIA Aug 2015 & Jan 2016 lows of just under 16000pts gives where the price levels are now just under 32000pts. (Crunch those numbers for me MTU and tell me what the exact figure is for doubling those 2 lows).
The double-DJIA values would be 30740.66 and 30901.12, the current ATH is 31643.70
DeleteIn reviewing it the DJIA Aug 2015 to Feb 2016 period there are a cluster of low days that average around 15750 to 15800pts. Doubling those would give around 31500 pts. You don't necessarily take the extreme lows in this type of calculation.
Delete