It has not been a bad year for the old Dow..old people are wise and have no tech :).
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In the box. Lets see how it goes
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Red box encounter proved to be deadly :)
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Dow still cannot recover from the meeting with the Red Box. Old age, what can you do
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Dec lowest closing low of Dow was 32758. One very important indicator i have learnt from Jeff Saut, the long time Chief Strategist of RJ, is the Hooper rule: If the December lowest closing low is broken in the 1Q of next year, it is a bad sign for the market. Well, we are close and March is ahead
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The worst case scenario was Dow is in the vicinity of the Dec 2018 low, so peak to trough 40/41% decline over 2 years which is fine. Will track as we go
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Dow closes the week below the Dec low and turns the trend across all important timeframes to negative. Which implies that the high made in Dec could stay for many, many months. The encounter with the Red Box was scary
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In contrast to Dow, SPX/NDX have a still slightly more positive structure which leads to this sideways congestion
