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Re: JohnCM post# 6373

Thursday, 12/13/2018 5:30:09 PM

Thursday, December 13, 2018 5:30:09 PM

Post# of 16650
Okay, I'll take a crack at future prediction...not with precious metals but with the DJIA.

Probably two more up and down cycles from here...Dow's been in a descending wedge since the second of a double top formed in early October (first one came in late January). We're not quite halfway up the wedge at the moment...should bounce off the upper trendline a little before or after Christmas (25400ish) and start heading back down but will still be higher than we are now so at least the blue chippers will have a nice holiday if not us lowly potters. Then back down toward the lower trendline to a lower low than we just were on Monday (23881) but still above the critical support level formed between the two double tops. Back up and down one more time after that and on that next low we finally break through that crucial 23350 support level and we will have just witnessed the birth of a new baby bear...mid to late January 2019.

Bonus prediction: Trump will blame it all on Pelosi.

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