The chart shows the sum of the Dow, Nasdaq and S&P markets normalised to the January 2018 high. The US stock markets make up over 50 % of world stock market cap.
The fractal comes from gold 2006 to 2008. Fit was really good until 20 June. Now stocks fallen below an important support level (dotted line) reducing the likelihood of immediate recovery. Failure to retake that level now increases the likelihood of a stock market crash in Q3 2018.
Here is the entire channel. If a breakout isn't forthcoming, a correction will be incoming that could easily lead to a complete stock collapse given the hype of the last few years, the margin debt and the possible Trade War (Donald long Bitcoin)
The fractal comes from gold 2006 to 2008. Fit was really good until 20 June. Now stocks fallen below an important support level (dotted line) reducing the likelihood of immediate recovery. Failure to retake that level now increases the likelihood of a stock market crash in Q3 2018.
Here is the entire channel. If a breakout isn't forthcoming, a correction will be incoming that could easily lead to a complete stock collapse given the hype of the last few years, the margin debt and the possible Trade War (Donald long Bitcoin)
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Combined stocks should retest the 0.97 level before probing the current level for support.
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next month will be a good test of this chart
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Starting to get interesting now... US stocks may still break out, I'm not a doom believer when it comes to global economy but a deeper/longer correction is still possible here I suppose.
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People talking about an imminent stock crash... makes me very skeptical to be honest. Here I've refitted the fractal a bit so that turning points coincide (not price levels on the whole). I think there is still a good chance major US indices will break out personally.
Check out the chart, you can see there is an unfilled gap at 99 %.
The second chart shows that Nasdaq has already broken out with S&P slightly above the average and Dow below it.
Check out the chart, you can see there is an unfilled gap at 99 %.
The second chart shows that Nasdaq has already broken out with S&P slightly above the average and Dow below it.
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Stocks look to be breaking out
Present fit indicates next peak end of Oct with an approx. 12% gain on Jan ATH
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