One month ago, I offered up a predicted target for the year’s low on the Dow Jones Composite. We are spot-on so far, having fallen 3% from the original prediction. Here’s what I think we’re going to see over the next few months:
One of the nice things about Slope is that we have a variety of contributors, so you aren’t subjected to my Johnny One-Note ramblings all the time. An old timer here is 2sweeties, more professionally known as Retracement Levels. He’s been with Slope almost from the beginning.
On June 9th, he did a post to go long the market, and I’ve got to say, he totally nailed it (indicated below with the green arrow). Even better, this was a follow-up to his “short the market” idea, marked with the red arrow. The “short” idea missed the top by a little, but who cares – – it was awfully close. Suffice it to say I’m glad there are other voices here on Slope to give the place some balance!