5 Reasons Why I Believe a Correction is Due
1. I measured the distance off the Ichimoku Cloud, just before markets crashed in 2000 & 2008. We are definitely way too above the cloud support right now (Approximately $69 off the cloud support or 56.27%), let alone the 50 & 200 moving averages.
2. Assessing the data after 1994, the JMA2 moving average is currently in the longest uptrend streak ever, which has been running for 729 days. The uptrend is noted by the white line on the candles, and black line is the downtrend.
3. RSI on a monthly chart has faithfully indicated prior to the previous 2 market crashes, as shown by the pink circles.
4. Jurik Research's JU_VEL shows the momentum. It is at the highest reading ever since 1994. Momentum seems to be peaking here and from the chart it's obvious what happens after that.
5. Notice the volume dropping - but the momentum & price gaining. These price levels are paper thin, I believe it is very fragile. All good things come to an end - but it is probably for the bigger good of the market.
Here's a very fascinating read about the Bradly Siderograph and how it applies in 2014:
seeitmarket.com/bradley-timing-model-indicates-july-2014-turning-point-13666/
Follow me on StockTwits:
stocktwits.com/SHIGGA
2. Assessing the data after 1994, the JMA2 moving average is currently in the longest uptrend streak ever, which has been running for 729 days. The uptrend is noted by the white line on the candles, and black line is the downtrend.
3. RSI on a monthly chart has faithfully indicated prior to the previous 2 market crashes, as shown by the pink circles.
4. Jurik Research's JU_VEL shows the momentum. It is at the highest reading ever since 1994. Momentum seems to be peaking here and from the chart it's obvious what happens after that.
5. Notice the volume dropping - but the momentum & price gaining. These price levels are paper thin, I believe it is very fragile. All good things come to an end - but it is probably for the bigger good of the market.
Here's a very fascinating read about the Bradly Siderograph and how it applies in 2014:
seeitmarket.com/bradley-timing-model-indicates-july-2014-turning-point-13666/
Follow me on StockTwits:
stocktwits.com/SHIGGA
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