The DOW JONES to begin a strong move UPWARD. SENTIMENT is BULLISH. We believe it will prove a "trap". STATMAN SAYS "BEWARE".
Good morning my Steemian friends. The DOW will open in minutes up perhaps 220 points.
Please refer to the chart below:
Remember, Oct. 5th and the blog is there to see, our CAUTION, based on a sentiment sell signal. We remarked that we've been out a few weeks prior at 26,500 always realizing we could go to 28,000, but money much better place now (Sept.) in Silver and gold.
I am saying right here, sentiment is bullish. I noted that after the first 1000 point decline from almost 27,000. I was a bit early! Nimble shorter term traders can buy here (using stops). And keep moving them up.
This break in the equities is just the precursor of worse to come. Ultimately in 2019 or later we'll settle at about a thirty percent decline, perhaps 20,000 in the dow. Silver and gold will be at that time much higher.
But we'll monitor this move to see how many "suckers" are caught. By monitoring, I'll watch the put-call ratios and see how quickly they turn negative. Or, is a legitimate "wall of worry forming" that could take this move 2000 points higher!
Speaking of gold and silver we are soon to pick up some steam to the upside. Things are just getting "interesting".
And our sentimental favorite BTC is about 6500 and holding steady after the excitement of yesterday. I'll write late r of this one. The Sentiment indicators I look at remain "not bullish". We still have (remarkably) far too many bulls. I know there is an increase to many of skepticism and some fear. It is just not enough for a serious and prolonged move upward.
Thank you for the support. As always, these are my opinions. Please do your own due diligence.
The weekly trend is still in tact. Stocks remain a buy for me.
thanks..sentiment (as I write) bullish...but I expect bigger trouble in '19.
Could be. Nothing to worry about if you are always buying quality companies. You should definitely worry if you are an indexer.
You can't make it up. My twitter stream was filled with BTFD calls, Wall Street Bought the Dip, Consensus bought the dip with 3 times standard devisation to the call side in relation to the last 3 years...
Consensus bought the dip...and consensus is usually wrong...
you are spot on my friend..and always like your commentary.
It's a second chance to cash out and buy miners and metals. Good analysis. Get in on my twice daily universal income.
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exactly...and thanks..will do.
Hum, everything will dépend on Q3 results and guidance for Q4 and 2019.
For now, they have been strong (banks, Adobe, ...).
Let’s see, the fate will be decided by Friday.
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thanks....and appreciated....
I agree with your Dow, gold and silver, but not your BTC. Good post, thanks.
thanks..and your blog is outstanding...( my point on BTC) is sentiment at present just not bullish enough...) where do you see BTC 1-2 years out? and I respect your opinion....
Thanks, that means a lot coming from you. For a 1-2 year projection, all I can really do is extend the trendlines and read the possible maximum and minimum prices off.
Were I to guess, then I would say Oct 2019 could see BTC at around $60k and Oct 2020 at around $400k. But to put any form of certainty to those figures at this stage of the game would be crazy.