Global Markets Break Hard to the Downside - Watch These Support Levels

Research Highlights....

• New reports of widespread financial corruption likely triggered the current sell off.

• Watch out for market support levels to see if this is a short term correction or the start of a downtrend.

• Support for the DOW is just above 26,000.

• Support for the SP500 is around 3,100.

U.S. and global markets were already under pressure over the past few weeks related to COVID-19 issues and global economic expectations. The technology sector had driven valuations to levels not seen since the DOT COM bubble near the end of August and many of the US Indexes has reached or breached all time highs again.

My research team and I warned followers to “stay cautious” throughout much of the price rally as our proprietary price modeling systems suggests the rally was isolated and not organic. The U.S. Fed has spewed capital into the markets and speculative traders piled into the “excess phase” of the market to drive price levels higher. Take a moment to review these recent research posts to learn more....Continue Reading Here.

It’s Go Time for Gold - Next Stop $2,250

Research Highlights....

* Gold Pennant/Flag formation is now complete and setting

   up new momentum base near $1,925. 

* Our Adaptive Fibonacci Models suggest support will prompt 

   new Gold rally to $2,250.

* The rally in Gold will continue to extend higher over the next

   4+ weeks.

The U.S. Dollar may move lower and/or the US stock market may break recent support to prompt this new rally in Gold. If you are a follower of my research, then you know I follow gold and silver closely. I believe Gold has completed a Pennant/Flag formation and has completed the Pennant Apex. 

Further, a new momentum base has setup near $1,925 - $1,930, near the upper range of our Adaptive Fibonacci Price Modeling System’s support range. My team and I believe the current upside price move after the Pennant Apex may be the start of a momentum base rally targeting the $2,250 level or higher.....Continue Reading Here.

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Traders Dreams Come True - Big Technical Price Swings Pending on the SP500

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Research Highlights....

* A potentially critical price inflection point and technical

   pattern setup that has nearly completed and validated over

   the past few days, weeks, and months.

* Potential flag/pennant formation on our Custom Valuations

   Index Weekly Chart shows a possible 11% to 16% 9 or  

   more) downside price correction in SPY.

* Fibonacci Price Modeling system’s projects SPY downside

   target level near $284.50 before a bounce.

Over the past few weeks and months, my team and I have published a series of research articles suggesting the continued market melt up was driven by speculation and the U.S. Fed’s policies and support for the markets. We’ve also highlighted a number of technical patterns that have setup within various symbols that have generated strong warnings of a potential price reversal over the past few weeks. The biggest pattern has been the Head-and-Shoulders price patterns. The sudden downside price move in the NASDAQ, and other markets, last week caught many traders/investors off-guard. One day after a very strong rally in the US stock markets, the price reversed and sold-off nearly 6% – a shocking reversal of trend. Red Skys in the mornings – Sailors Take Warning....Continue Reading Here.

Should You Be Concerned About the Big Downside Rotation in the U.S. Markets?

Research Highlights:

* Don’t panic. Technical Analysis does not confirm a deeper 

   price correction at this time, nor does this appear to be the Bull     Trap we have been warning about… yet.

* We are waiting until next week to see if price confirms any 

   new trend.

* Volatility should decrease if this is just a moderate price rotation.


Is this the “Bull Trap” setup we have been warning about for some time now? Should traders be concerned about deeper downside price trends or a collapse in the markets?

We believe this current downside price rotation is just a well deserved (and somewhat overdue) price rotation related to the recent advance in stock valuations. Currently, the VIX is moving lower and the volume in the markets is suggesting the deepest part of this price move may be over (for now). Bonds are moving lower while precious metals are moderately higher. We don’t believe this current downside price move has any more momentum left – at least headed into the long holiday weekend.

This Daily INDU chart below highlights two key price levels that are acting as support right now, the 27,525 and 26,000 levels. This recent downside price rotation stalled very close to the 27,525 level and began to rally from those lows....Continue Reading Here.