If you’re going to have a 1929 style crash you need to have a run up like it… which we will I believe as I do think they are planning another big one but not this year. I think it starts in 2017.
We’ll have a correction of 200-400 SPX points before we run up to 30,000 DOW into 2017. It will be similar to the 2011 sell off and will be called Primary Wave 4 down while that prior one was called Primary Wave 2 down. Currently we are in Primary Wave 3 up and it will end at some point.
Then we have our big correction for Primary Wave 4 down and that’s when all the bears think the world is ending… which is when Primary Wave 5 up will take us to new crazy all time highs into 2017. But short term we could have topped today?
If so then we should see a drop to that 1900-1920 area in the coming weeks. Then we’ll make another run higher and take out 2000 on the SPX. Right now I think too many people see this double top and are expecting it to bust up higher… therefore it’s not likely to happen today.
Well I started playing in the early 1990’s when the Dow was at about 3000,a huge major all time high at the time..which was just over an all time double top high from 1987’s all time high of about 2750.Big headlines back then. And 99% of the so called “experts” were positive the market had come too far..too fast..and would drop back to around Dow 2000..and trade in a 10 to 15% range for many,many years. And that sounded logical. Of course in just about 7 years we had broken all the rules, and the Dow was 4 times higher at Dow 12,000. I saw lots of analysts go broke and get fired back then for being out of the loop.
And I’m sure not predicting anything like the 1990’s happening here yet..but it shows that it can happen..and would not be unprecedented if it did.
Personally for trading purposes..I’d love to see the market drop like a rock for a couple of months. But I ain’t counting on it. 🙂
Yeah, I keep thinking that they will take out the shorts overhead first, which means a new high. The ritual numbers are just a guess, so possibly there will be some other numbers that we’ll spot at the new high?
Some good points in there..but right now..I’m just going to assume we sail up through SPX 2000 and who knows how much higher. If the powers that be decide they want Hillary to be POTUS..we can pretty well bet there won’t be any big corrections until AFTER she’s elected.- I was in high school after the 1987 crash that made everybody think we were going to go into a 1929 style depression….but all these years later we can see that it was nothing more than a trick flush to keep as many out of the super rally of the 1990’s that really ushered in the multi-billionaire era for the U.S.. The 2008 crash may be this generations 1987 crash..and if it is..we may have many years left in this rally that will be impossible to know when the top might be. Could be in 18 months at Dow 19.500. Or it might be in 8 years at Dow 27,000.- Anyway..we shall see..but it looks like we’re going to be up another 100 Dow points right out of the gate. Unless the market somehow drops 8 to 10 % in the near future…we may have a 3 headed fire breathing bull with very sharp teeth here that sticks around a lot longer than most of us can imagine.
If you’re going to have a 1929 style crash you need to have a run up like it… which we will I believe as I do think they are planning another big one but not this year. I think it starts in 2017.
Wow. Hell of a prognostication there. We’ll see. Thanks.
We’ll have a correction of 200-400 SPX points before we run up to 30,000 DOW into 2017. It will be similar to the 2011 sell off and will be called Primary Wave 4 down while that prior one was called Primary Wave 2 down. Currently we are in Primary Wave 3 up and it will end at some point.
Then we have our big correction for Primary Wave 4 down and that’s when all the bears think the world is ending… which is when Primary Wave 5 up will take us to new crazy all time highs into 2017. But short term we could have topped today?
If so then we should see a drop to that 1900-1920 area in the coming weeks. Then we’ll make another run higher and take out 2000 on the SPX. Right now I think too many people see this double top and are expecting it to bust up higher… therefore it’s not likely to happen today.
Well I started playing in the early 1990’s when the Dow was at about 3000,a huge major all time high at the time..which was just over an all time double top high from 1987’s all time high of about 2750.Big headlines back then. And 99% of the so called “experts” were positive the market had come too far..too fast..and would drop back to around Dow 2000..and trade in a 10 to 15% range for many,many years. And that sounded logical. Of course in just about 7 years we had broken all the rules, and the Dow was 4 times higher at Dow 12,000. I saw lots of analysts go broke and get fired back then for being out of the loop.
And I’m sure not predicting anything like the 1990’s happening here yet..but it shows that it can happen..and would not be unprecedented if it did.
Personally for trading purposes..I’d love to see the market drop like a rock for a couple of months. But I ain’t counting on it. 🙂
Thanks… let’s see if we can get some ritual numbers to show up today some where.
Yeah, I keep thinking that they will take out the shorts overhead first, which means a new high. The ritual numbers are just a guess, so possibly there will be some other numbers that we’ll spot at the new high?
Some good points in there..but right now..I’m just going to assume we sail up through SPX 2000 and who knows how much higher. If the powers that be decide they want Hillary to be POTUS..we can pretty well bet there won’t be any big corrections until AFTER she’s elected.- I was in high school after the 1987 crash that made everybody think we were going to go into a 1929 style depression….but all these years later we can see that it was nothing more than a trick flush to keep as many out of the super rally of the 1990’s that really ushered in the multi-billionaire era for the U.S.. The 2008 crash may be this generations 1987 crash..and if it is..we may have many years left in this rally that will be impossible to know when the top might be. Could be in 18 months at Dow 19.500. Or it might be in 8 years at Dow 27,000.- Anyway..we shall see..but it looks like we’re going to be up another 100 Dow points right out of the gate. Unless the market somehow drops 8 to 10 % in the near future…we may have a 3 headed fire breathing bull with very sharp teeth here that sticks around a lot longer than most of us can imagine.
Good Post Red !
Possibly… but as long as we don’t take out Tuesday’s high I’m incline to short this pig. (By the way, I did a new post)
New post: http://reddragonleo.com/2014/07/16/global-currency-reset-stock-market-crash-or-both/