I commence with my gratitude to The Creator
Stock Markets broke down today with a run away gap. This is the indication that we have second leg down starting, as stipulated in my post dated August 15th, . This break away gap down took place after the topping pattern being completed around the time cycle of 08/16-08/17, and at the failure of my suspicions about 1,200 level of S&P-500 that markets might fail in their rally attempt there. Which it did occur.
Now next turn in markets time cycle is on Monday 08/22, and next one is 08/25-08/26 (most probably on 08/26). Break below of the 08/09 low, shall create capitulation reaction in the market decline. If that occurs within these 2 time cycle dates, then we shall have another swing bottom being formed. Price levels are in my earlier post today.
2 comments:
We did have the strong US stock rally in morning and Europe, rallied over 2-3%.
but it is vanishing at the end of day.
Your forecast did create a bounce
But does it mean that we shall go lower into your next time cycle
I feel that the market low is in though mr syed.
Please see my post
http://abundance-in-trading.blogspot.com/
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