I still have my order buying 4% SDS at DJI 10,490.
Jack's work looks for levelling off of the 200-day M/A and approaching downsloping trendline as entry. I like that.
Here is the speculative part. Intersecting trendlines as approximate bottom date. Parallel trendline from the 2007-2009 downturn applied to the last minor high prior to the April high as predictive of the bottom where it intersects the date of the intersecting trendlines. Predicted bottom data November something, value DJI 7,000. Jack is still back-testing so no warranty implied.
I have added a traditional Elliott channel from the April high.
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Steve
ReplyDeleteIf you add the trend line I just sent you to this chart they can see it intersects at DJI 7000 also.
Jack C