This idea is a basic 3 peaks and domed house model. A= 20,000, B= 27,000, C= 23,200, D= 27,000, E= 22,000, F= 29,500, G= 19,800, H= 29,000, J= 26,000, K= 30,000, L= 30,000, M= 35,000, N= 36,500, P= 35,000, Q= 32,000, R= 31,000, S=17354 approximately.
The calculation is as follows; F minus G=9700. N minus G=16,200. The swing over ratio = N minus G divided by F minus G =1.67
N minus G times 1.67 = 27054 minus (F minus G) = 17354. I am basically saying that there will be a fall from 31,000 on the Dow Jones Industrial Average to 17,300 or there abouts in the next downleg of the current bear market. At this point I would be going long. I am also using a gann whell and a fibonacci time sequence on the horizontal axis to give some guidance. RSI is showing support and resistance and divergence at some points.
The calculation is as follows; F minus G=9700. N minus G=16,200. The swing over ratio = N minus G divided by F minus G =1.67
N minus G times 1.67 = 27054 minus (F minus G) = 17354. I am basically saying that there will be a fall from 31,000 on the Dow Jones Industrial Average to 17,300 or there abouts in the next downleg of the current bear market. At this point I would be going long. I am also using a gann whell and a fibonacci time sequence on the horizontal axis to give some guidance. RSI is showing support and resistance and divergence at some points.
הערה:
I did the calculations again looking at the highs and lows more carefully and a bearish case taking the lowest wick from the covid low results in 19,761 low while a buillish case not that much better really is 20,442 based on the closing low not the wick.
