Opportunity of a Lifetime
I haven't posted any charts by Allan in a long time, but it looks like he's coming to the same conclusion that we are, maybe for other reasons. Charts. - Ilene
Courtesy of Allan Trends
The decade long view of the Dow Jone Industrial Average uses monthly bars to portray the past and suggest the future. The devastating decline of 2007-2009 wiped out stock market fortunes. So much so, the investing public remains out of stocks, although they seemed to have found some solace in gold and silver, for now.
The chart shows a new high made on the current monthly bar, a turn lower below last month's close and both right at a significant Fibonacci level. I haven't labeled the waves because I'm too lazy. Nonetheless, there is an A-B-C up from the 2009 low. My longer-term trend indicator is still trending up, but reverses down at 11,415. That's 1,000 points below current levels. The Daily version of the indicator is already short. The Weekly getting close.
Look at those signals. They don't fool around. You can sit out the next 1,000 points to be certain, you can subscribe to AllanTrends, (info and discount for PSW readers here) to be certain, or you can listen to Jim Cramer to be uncertain. In any case, there is a huge opportunity building in the market, those 1-3 times in a lifetime when if you are right, there are life-changing ramifications.
It's how people get rich.
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