Since I'm bored this weekend, and really like charts... I went ahead and put together rough outline of what a 1928 analog would look like. It is but an analog, so work it until it doesn't work. With that said, our current bull market off the 2009 low is running at roughly 85% in time and % gain to the bull from 8/21 to 8/28 which would mirror where we are currently. If you project where that would take us over the next year in price and time, it would yield a Dow of 32950 by 11/1/15, and then a crash back down to 17,000-18,000 by mid-Dec 2015.
For entertainment purposes only? You decide. Work it till it doesn't work. The Dow is not only above its long term megaphone top, but backtested it with the Dec decline. A decisive move higher from here will see it breakout of it's large rising wedge off the 2009 low to the upside. We'll see.
- By: TnRevolution
- On: 12/20/14 2:23PM
- Viewed by 32 SocialTraders
- No ratings yet