Just before I left InvestingNote, I have posted two charts there for followers and friends to take note. In case those who missed it, please see attachments
When zoom in, you get two charts below:
1) Daily Dow futures 7th Feb 08
After the crashed, I gave a reading that Dow can do rebound in three waves. Waves a, b, c. I did not continue after wave c because I want to get a feel of how strong this rebound will take us to. Yes, it is quite clear that wave d is going to be a down wave but when and where will it starts to drop? I am hunting for second tops in Dow.
2) Weekly S&P 500 Vix 7th Feb 08
Weekly S&P 500 Vix is fear index. It gave us a clue of oncoming market volatility when there are fears and massive sellings. There are also three waves a,b,c in sight. We are currently in wave b, going to hit support levels very soon and continue wave c, a sharp rise in S&P 500 Vix. Wave a,b,c is just my predictions based on historical patterns in S&P 500 Vix chart. If market is indeed going for big crash, I would expect a five waves chart instead of just three.
So, below will be my lastest updates on above two charts. I am providing the updates as I felt there should be a closing to where I have left behind in InvestingNote, so that friends can be well-informed. These are just predictions based on experience, they are not advises to anyone. Take it as just guide, may or may not come true.
Updates as of 27th Feb 2018
1) Daily Dow futures
The blue arrow is the down wave d. I believe we are very close to second tops where actual Dow closing last night was at 25,709. I am looking at 26,000 region plus, minus for second tops to take place. Then wave d will take us down to retest some support levels. These support levels are important to determine if market will continue to go up after this last crash.
2) Weekly S&P 500 Vix
We are at tail end of wave b, the blue line is the support line for Vix and should provide support for wave c to start its rebounds. Waves c would cause world stock markets to shake again. We will see if this is going to happen soon. So trade well and take care.
Hi IpoTrust, just came across your blog after following you on IN for a couple of months before your departure. Really miss your postings there... For DJI, seems like it has rebounded off the uptrend support last night from the previous two lows in February, do you think it will continue to go up higher or is this just a technical rebound before further downtrend?
ReplyDeleteSeparately, is there anyway to be included into your updates on top of this blog? Thanks!
Thank you for your supports. Currently I will be just sharing stuffs in this blog, no intention to invite more people into my member circle. If I do, I will open up invitation via this platform.
DeleteAs for Dow, last night drop rebounded from the support, this was due to sudden weakness in US$. It is likely to be technical rebound until next set up confirms where it should go. You can draw a downtrend line from first top and second tops as resistance for better read as well. Hope it helps.