YM DOW JONES Final 6% Rally Before -37% Sell Off March Top
This is going to be a repeat of my prior post as I now have more up to date information on the 37% dump that is around the corner. It will be hard for me to thouroughly explain what it is that I am personally seeing but I will try.
First off, I am basing this entire thesis on 1969 as price action is lining up near identical. I first noticed this back in September of 2023. Here is a monthly chart of 1969.
Evidence:
Bearish rising wedge up at the top of the up channel
Rising monthly 200sma coinciding with the demand zone from the prior crash. 1962 and 2019 respectively.
The October "Low" that bounced off the minor price support of the 1962/2019 crash
A "bounce" of 15-20% off of the monthly 21ema at the bottom of the rising wedge during the last push up before the ultimate dump
Now onto the daily time frame:
Starting with 1969 with the big rip off the monthly 21ema
Now onto 2024 daily, notice the same wide separation of the daily's 21 and 200
From that rip off the monthly 21ema, in 1969 it was a 15% rally, pullback into daily 21ema then another 6% rally before that was all she wrote. Start of the down trend -37% sell off.
2024 rip off the monthly 21ema with a projected 20% rally followed by the same 6% rally at the top before it dumps
Thank you for being patient with my and me trying to explain what I am seeing. Feel free to leave your reply below. Am I seeing things? There seems to be too many similarities to fully ignore.
First off, I am basing this entire thesis on 1969 as price action is lining up near identical. I first noticed this back in September of 2023. Here is a monthly chart of 1969.
Evidence:
Bearish rising wedge up at the top of the up channel
Rising monthly 200sma coinciding with the demand zone from the prior crash. 1962 and 2019 respectively.
The October "Low" that bounced off the minor price support of the 1962/2019 crash
A "bounce" of 15-20% off of the monthly 21ema at the bottom of the rising wedge during the last push up before the ultimate dump
Now onto the daily time frame:
Starting with 1969 with the big rip off the monthly 21ema
Now onto 2024 daily, notice the same wide separation of the daily's 21 and 200
From that rip off the monthly 21ema, in 1969 it was a 15% rally, pullback into daily 21ema then another 6% rally before that was all she wrote. Start of the down trend -37% sell off.
2024 rip off the monthly 21ema with a projected 20% rally followed by the same 6% rally at the top before it dumps
Thank you for being patient with my and me trying to explain what I am seeing. Feel free to leave your reply below. Am I seeing things? There seems to be too many similarities to fully ignore.
Note
Note
My projected timeline for the next 30 years on SPY/SPX/ES
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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.