Weekly Charting - 9th February 2018, page-11

hOOts - Yes these sorts of market correction can be pretty scary if you haven't experienced them before.
Metastock on their You Tube channel have just published a Dr Alex Elder video where he looks back and compares the current market volatility with previous corrections. The first 25 minutes is worth watching, the rest of the video is Metastock trying to sell their Elder's plugin.

A link to the video is below:

https://www.youtube.com/attribution...u=/watch?v=PMg-i1sfRo8&feature=em-uploademail

In summary he suggests that:
- These corrections occur every 2 to 3 years.
- We should be looking for a slow grind over the next 6 weeks with the SPY making a double bottom on lower volume around the current correction low.
- After that we will be back into bull territory.

My own market cycle soothsayer keeps on telling me that this will in no way be a GFC type crash and that after a recession in the 2019-2020 period we will be in the biggest bull market of all time. The end will come with a major GFC type crash around 2026.

I hope they are both right. In the mean time I'll let my system continue to protect my capital. It' been doing a good job so far.