Thursday, December 8, 2016

The upcoming Dow, Arrays AND commentaries from Martin Armstrong


It looks like we are closing above the resistance today at about 16,600.  Since I'm not playing with house money anymore, I don't see a real turning point until the 14th, and then the 16th.  Is this before/after the fed meeting?  I might want to look that up :P

"The Dow has made a thrust up to the mid 19000 level. We can see technically, the market has closing resistance at 19576 level with the next level up at the 19731 area. We have a Daily Bearish Reversal at 19135 temporarily from today's high."

Onto the weekly:
 


"We have some weekly closing resistance at the 19695 level followed by 19992 area. Support lies back down at the 18813 level technically. The next key Daily Bullish stands at 21301. That will change if we keep making new highs. It may even move lower"


"Looks like volatility may rise next week. We could pause, retest support then turn back up into January. There is a risk that we then have a correction."


*The dates given are for the Mondays of the week.  The turning points could be any day that week.


This looks like the kind of bet I want to make with my hard-earned money.  He's saying we'll be flat to lower until the bar on the week of 12-19, and then rally to 1-02, and then a "correction" which I believe he's implying is substantial.  That would be from the 1/02 turning point high










1 comment:

  1. You should not delete comments about the failures of greg mannarino. It makes you look like a blind believer... oh wait a second.

    ReplyDelete