Wealth Building Trade Update (Long until 49,000) 25% Spike Down
Just providing an update on the status of the market. Now that 40,000 is broken out of, it is on the march towards 50,000 or the 1.25X range expansion. After which the market will make a 25% spike down into the 0.50 level of 37,000 before continuing on the grind to 150,000.
This is all my own personal speculation of course but this is how I am trading the market. That spike down lines up perfectly with the 0.50 level AND that long term bull trendline. It also makes a higher low above November's 33,000 low.
This will allow the 49,500 high to be fuel as a weak high to be broken. Once 50,000 is broken, then the market will start to grind higher up to 150,000 and eventually accelerating towards the end.
The covid spike down was 36%. The June 2025 spike down will only be 25%, enough to shake off higher level longs before the march higher. I will out before that level.
This is all my own personal speculation of course but this is how I am trading the market. That spike down lines up perfectly with the 0.50 level AND that long term bull trendline. It also makes a higher low above November's 33,000 low.
This will allow the 49,500 high to be fuel as a weak high to be broken. Once 50,000 is broken, then the market will start to grind higher up to 150,000 and eventually accelerating towards the end.
The covid spike down was 36%. The June 2025 spike down will only be 25%, enough to shake off higher level longs before the march higher. I will out before that level.
Note
The yearly chart of the Dow Jones since 1896.EVERY bull trend has been 33 years and 2300%
Note
Note
Now that this 4 hour closed above and broke to new highs, we are now on the march to 49,000. I will be adding another contract once I am at 2000 points profit on the first, which is 41,520. And then another at 43,520 ect up until my target of 49,000. I am not going to get caught in that spike down dump of 25%Trade active
I added another contract using the profits from the first contract. Moved stop up to B/E. I will add another contract at around 43,500 area.
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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.