Seems I am in synch with the tech count these day as I seem to have called nearly the exact top of the ADI bull market in my first post done on them ever. They kissed that 61.8 fib in 3 waves up from 2009 and then careened down from it like it had it an electric fence.
Note: this big move up from 2009 is a-b-c, not 1-2-3-4-5 because the 2014 dip which would have been 4 in the 1-2-3-4-5 case fell into the range of 1 which peaked in 2011. Thus that first 2011 peak is not 1, it's A. The entire run since 2011 has been corrective; an upward correction in a broader down trend.
In other words dot bomb never was allowed to completely crash yet but now it's going to finish. The government can distort the markets but it cannot change the eventual outcome. Lions which are spotted in wait near the watering hole distort the herd but they do not change the need to drink.
The commodities were first, then the transports. Then the techs joined the southward migration. Soon the industrials and the banks will join the turn south.
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