The market has reached a very strong fib retrace level of 1.272. Now that this has happened we can expect some sort of positive news to come out that will be correlated with this temporary relief we are about to see. Once reaching the 21k level we can expect some more negative news to counteract anything positive and further push levels down to the anticipated 1.618 level and completion of this down cycle. Total loss in value from the highs would be 42%. If DJI falls below this 1.618, we'll then see a further decline upwards 0f 60% to the 10k level. Remember the great depression of 1929 had an 87% loss of value over the course of 3 years. We are currently 1 month into this decline and already down 30%. This is most likely only beginning.
NOT FINANCIAL ADVICE.
NOT FINANCIAL ADVICE.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.