This is what I am anticipating for the next 3 years or so on the DOW'S weekly chart.
I am expecting a bullish run up in this bear flag formation to hit the third measured move up to 42,250 before the next sell off down to the covid low demand area of 24,400.
This last weekly run up was the second measured move and is still in progress to hit 39,000 based on the January 11th CPI report. This move is also the start of the head and shoulders formation of the right shoulder and the complex topping pattern.
Once that neckline gets broken, look out below.
I will still be pursuing bullish strategies up until 2025 and the 42,250 price target. After which I will be selling my portfolio for cash to get ready for the next wonderful buy opportunity at 24,400.
The weekly chart is the KING and is what the market maker's plan every weekend when the market is closed.
I am expecting a bullish run up in this bear flag formation to hit the third measured move up to 42,250 before the next sell off down to the covid low demand area of 24,400.
This last weekly run up was the second measured move and is still in progress to hit 39,000 based on the January 11th CPI report. This move is also the start of the head and shoulders formation of the right shoulder and the complex topping pattern.
Once that neckline gets broken, look out below.
I will still be pursuing bullish strategies up until 2025 and the 42,250 price target. After which I will be selling my portfolio for cash to get ready for the next wonderful buy opportunity at 24,400.
The weekly chart is the KING and is what the market maker's plan every weekend when the market is closed.
Note
The daily chart will in some way mirror the last year and chop around until the final burst up for the third and final leg higher
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Related publications
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.