This could be an interesting one for all the chartists out there.
The winner obviously is the person who gets closest to the pin and has saved their war chest for this exact scenario.
I suspect we may not have a winner for many months , or probably years as we step down the staircase with the odd dead cat bounce along the way.
IMO trade may well be stifled globally with countries closing borders and people forced to stay indoors hence not spending (or earning) as much and various markets starting to feel the impact (including real estate). So many borrowers are on the brink even at these low interest rates.Sovereign debt is also at extreme levels since GFC1 with interest rates globally nearing 0% and banks initiating bail out laws over recent times preparing for this exact scenario .
For followers of W.D.Gann , I do recall looking at his cyclical charts about 12 years ago and with allowance for lunar years vs calendar years , he predicted that every 80 to 90 years the cycles converge and that therefore there would be a world wide recession (depression) beginning between 2011 and 2020 . IMO the band aid fixes adopted world wide during GFC1 stood only to worsen the effects of any worldwide downturn that follows.
I do hope I am wrong , but none the less I will open the account at 4450 for the ASX , and I'm going for Gold (literally).
