Loading ...Dow Theory Bear market Price points
Jan 12 2016:
At this stage, if the S&P500 and Nasdaq also make new major swing lows, then Dow Theory would confirm a major new bear market. At that stage, my only wave count would be the bear wave count.
The lows below are from October 2014. These lows were the last secondary correction within the primary trend which was the bull market from 2009.
S&P500: 1,821.61
Nasdaq: 4,117.84 (it is breached)
DJT: 7,700.49 – this price point was breached.
DJIA: 15,855.12 – this price point was breached.
Russell 2000: 1,343.51 – this price point was breached
Once S&P price breaches Market will be in multi year bear Trend.
Weinstein model also confirms that to be the case…a multi year Stage 4 decline. Any BMRs back to the 30 week EMA area should be shorted. Long positions should be avoided, unless you are experienced in intra-day trading.
I am ready for at 30 ema to short the market. EEM,SPX,BTK,and Energy.