This is a follow up to my first post on Trading View four months ago.
The Fibonacci sequence is as follows. (1,1,2,3,5,8,13,21,34,55,89,144, 233 to infinity...) Occasionally markets turn on Fibonacci sequence numbers.
Today 12/21/16 Winter Solstice the DJIA came one point away from making a new all-time high. It is also a Fibonacci 89 trading days from the 8/15/16 top and a Fibonacci 233 trading days from the 1/20/16 bottom.
This duel time cycle hit coming on the winter solstice is powerful evidence the DJIA could be at an important top. It is doubtful the DJIA will reach 20,000 at least not for the next several months. If a down turn begins the November 3rd bottom would be the first downside target. A retracement all the way back down to the Jan 2016 bottom is possible in as soon as two months. I will have more about this forecast in a future post.
Mark
Komen
The_Unwind
⋅
Mark,
Stock Index futures falling slowly in overnight trading,12-22 making the 12-21 late day sell-off more meaningful by the hour.
What happened to Dow 20,000.. ?
Stock Index futures falling slowly in overnight trading,12-22 making the 12-21 late day sell-off more meaningful by the hour.
What happened to Dow 20,000.. ?
Joe S.