Well, folks, here’s another one …
Again, Mr. Jenkins taught me that often times “end of moves” occur when 4.236*AB=CD. (4.236 = 1.618^3)
Right at this level is a monthly projection, 1.618 extension and the 4.236 projection. Throw in a little bearish RSI and …
Folks, trust me, it’s hard to be the only person that I know (and I honestly don’t know if anyone is doing this – just doing it for the dramatic effect. 🙂 ) that is presenting BEARISH PATTERNS completing/completed pretty much all over the place.
I fully expect them to get run over …have no short position on, yet, but just continue to get levels blown out of the water.
OBTW, the projection on the DOW was almost hit but we are in the “red horizontal DOW target zone” so if it’s going down, it “should” be starting soon. If we have another blow off day to the upside tomorrow I’m going to watch some commodities and currencies. OBTW, anyone notice that the BULLISH YEN PATTERNS hit and have held. That “usually” spells resistance for the US equities.
Sure appears the “easy” and “logical” thing to do right now is to be max long and “set and forget it.” Sorry, I can’t.
