Weekend Charting and Chat - 19th February 2016, page-6

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eternit

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20/02/16

17:07

Post #: 17073270
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Originally posted by Jagster Trading ↑

Wanna see a scary chart?

Below is a chart of the all sessions monthly S&P500 index. As can be clearly seen here, there is a distinct similarity between current moves and positions in momentum oscillators when compared to both the late-2000 and late-2007 periods, when falls of over 50% took place from their peaks. The S&P500 is not alone here with other major European and Asian indices looking the same as this. IMHO major falls are on the way globally.

ST target which should be hit by mid-year is about 1600 near the 38.2Fib retracement before a possible bounce back up to 1800 near the 23.6Fib retracement. My final projected target may be 450 - 500 to be reached during late-2017 to early-2018. The real scary thing is that several major global indices are behaving the same way as this chart and may experience similar falls before the end of 2017.

This is only about 18mths away so you better get those shorts on and STFR!

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Hi Jagster,

Thanks for that chart. Can you do a similar chart for xjo? As I would be interested to see your target for XJO.
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Weekend Charting and Chat - 19th February 2016, page-6

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Weekend Charting and Chat - 19th February 2016, page-6

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