It occurred to me (after being up all night running future scenarios) that non-subscribers might be interested in what all that “line, bounce, crash” stuff was about.
Let’s see the line, first.
As I have been telling you for several weeks (months, actually) since the 7/31/23 high we are now in a position to drop to the lower channel trend line and today we “is there” at the arrow lower right:
The bounce part is inferred on two accounts.
First, in a side-by-side comparison with 1929 from out Wave 2 (apparent) top, we see (with the two “trading boxes” how we have lined up a good place to rally. That’s be Ure’s expected Bounce.
There’s an upper box (where we are now) and the lower box where, in our comparison of our modern-day meta index work with the 1929 Dow Industrials, this was proportionately where things got silly to the downside.
The sound reason is that we seem moderately entrained with 1929, and there was a rally then which clawed back 341 points, or so.
This doesn’t mean we will mirror this in the modern replay, but a rally tomorrow would be a marvelous timing event. Then nose plugs for the Friday Monday period.
And we emphasize:
- This is NOT FINANCIAL ADVICE
- This is what financial news reporters could report if they were more interested in long-term newsworthy comparisons.
- The Bounce MAY NOT HAPPEN – it’s only a probability based on similarity of waveforms.
- And regardless, we ain’t recommending NOTHING. I’m an old journo who likes the money beat, and I can’t think of a more interesting topic when a country is bent of Replaying Venezuela – right down to importing a good chunk of their population! Go Slo!
- We could collapse under the trend and then rally back to it.
Sit, Watch and learn over coming days.
The crash part ought to be along after the Bounce part, but, like the old saying goes: “We live in uncertain times.”
Write when you get rich,