Professor’s Comments December 28, 2018
Posted by OMS at December 28th, 2018
Good morning.
After looking at yesterday’s early decline and late reversal, the market action appears typical of a corrective sub-wave 2 within Wave 3 down. If this is the case, it’s likely the markets will continue to rally today with the Dow approaching the 23,400 -23,500 level, possibly higher, before the next down wave begins. This Major down wave could begin as soon as the market opens for trading next year.
My point with this Update is that the current volatility is NOT a healthy sign for the markets and once the current rally ends, the markets are likely to begin a significant decline that will take them below their recent lows.
Again, IF I’m correct about the current rally being a sub-wave 2 within Wave 3 down, it means the largest part of the Wave 3 decline has yet to come. In other words, please be careful with your trading.
Just so you know….I will not be holding anything going into the New Year’s Holiday. I want to assess today’s trading and develop my plan of attack for the next wave down. I’ll talk more about it in my WSR.
h
Market Signals for
12-28-2018
DMI (DIA) | NEG |
DMI (QQQ) | NEG |
A/D OSC | |
DEANs LIST | NEG |
THE TIDE | NEU |
Index | Signal | Signal Date |
---|---|---|
DOW | NEG | 06 Dec 2018 |
NASDAQ | NEG | 07 Dec 2018 |
GOLD | POS | 27 Dec 2018 |
U.S. DOLLAR | NEG | 27 Dec 2018 |
BONDS | POS | 19 Nov 2018 |
CRUDE OIL | NEG | 23 Oct 2018 |
One hour video recorded from May 28, 2016 The Professor’s Signs of a Major Market Turn – Prospectives and the Projected Timing and Levels One hour streaming video – includes webinar handouts The Professor usually holds an update class whenever the Market looks like it may be making a major turn. If you have been following the Professor’s Comments you know that a turn is due….. LEARN MORE
Not sure of the terminology we use? Check out these articles
The Hockey Stick Pattern
The Creation of Waves and Trends
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Category: Professor's Comments