Dow chart showing strong similarities: 1929, 1987, 2000, 2007. You be the analyst.
Good morning Steemian friends. I have come across the chart below by technical analyst Chris Kimble of ETF Daily News.
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Truthfully (and I am not a pure 'chart guy') this can be seen as nonsense. But I respect it. I look at market sentiment probably more than charts. That guided my SELL at 26,000 at the end of Jan.'18. That is a sell of major proportions. The BUY I stated April 13th, 23,650 "for shorter term traders" was also based on sentiment and technical oversold conditions.
Right here, 24,300, I'm seeing a market I really don't care to be in but will state right here "THE PLUNGE PROTECTION TEAM" will give it one more hurrah and could even lull you to sleep with a move approaching the old highs! It would not shock me.
I look at economic fundamentals and they are eerily similar to crashes of the past. This time China will dictate a further rise in interest rates. The FED is out of ammo. The dollar will roll over. Should we approach the old highs and rates increase just a bit, we may see another "MOTHER OF ALL BEAR MARKETS".
Silver and gold in the face of dollar strength are giving a clue as to what they do when, not if the dollar starts its decline. I am calling for no later than the fall of 2018.
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The best opportunity to buy silver is here. It is out of favor, overlooked and being bought now by "smart money".
The opinions of course are mine. Please do your own "due diligence".
Thanks as always....UPVOTE , FOLLOW, RESTEEM.
These graphics are frightening. It will happen, we only don't know when. So, keep stacking!
I guess the timing will be around mid term elections which makes sense.
my thinking...thanks again..
I just signed you up for SBI with me....not sure how it works lol
https://steemit.com/steembasicincome/@steembasicincome/steem-basic-income-member-upvotes-drive-sustainability-7-may-2018
Thank you!! same here, lol..Your support is awesome..thnx.
Nice post, keep spreading the word. It's not too late for people to get some "protection" in the way of gold and silver... and crypto as well.
The plunge protection team, is quite fast and good at their job, clearly, but eventually theyre going to either come in too late, too little, or worse yet, come in to heavy and buy up too much at once and over extend themselves. That's the scenario I can see as the "biggest" crash.
However, it is possible for this market to continue for quite a while longer, maybe even years, and simply have a gradual, but faster decline in dollar purchase power, We will know this is happening when month after month we see a steady rise in gold, past its ATH in dollars. Also I think you will see a big red and white flag warning with what happens here in Canada, I feel like our market is going down before the UK or the US.
Greatly appreciated..thnx..and "spot on"..!!
That DOW monthly chart is REALLY GROSS. It is very hard for me to be as bullish as I was pre election right now, but only for such a small timetable 2-6 months out.
exactly!!
I see the similarities - It looks like nothing I want to play around with!
you bet...and thanks for stopping buy.
Thank you for your continued support of SteemSilverGold
Another great report. Thanks for the info Statman!
thanks.."tp"