Point #1
As you can see above, the market seems to be following a 13/14 week cycle ever since the Covid crash. This means that consistently a swing low or high is forming every 13/14 weeks.
Point #2
We have once again reached week 14 (last week) and that can mean a swing high is forming right about now.
Point #3
This analysis has got confirmation due to the topping pattern in the candlesticks. I.e. bullish engulfing followed by a shooting star and a negative follow through.
Point #4
Another key confirmation is the absolute breakdown of the Dow transports last two weeks!! This is called Dow theory and has consistently been a leading indicator for the general market.
As you can see above, the market seems to be following a 13/14 week cycle ever since the Covid crash. This means that consistently a swing low or high is forming every 13/14 weeks.
Point #2
We have once again reached week 14 (last week) and that can mean a swing high is forming right about now.
Point #3
This analysis has got confirmation due to the topping pattern in the candlesticks. I.e. bullish engulfing followed by a shooting star and a negative follow through.
Point #4
Another key confirmation is the absolute breakdown of the Dow transports last two weeks!! This is called Dow theory and has consistently been a leading indicator for the general market.
