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Armstrong Watcher Caroline sent this today…interesting to say the least
..the Dow could head to the 15,000 level as long as the price of the Dow didn’t go up and as we start this week the Dow looks to be heading South not North..you’ll find MA’s comments re the 15,000 level in the last paragraph of one of these attachments. I grabbed today’s charts of the Dow and Nasdaq showing that price for each is now below their respective 10 Day moving averages so that’s good news for the Bears.
the week of March 16, 2020 the Dow was 19,173 and SDOW, the Dow short was about $82.00+/- and it closed today at $18.00 today….so 15,000 is still quite a bit below 19,173 …these screen shots might be a hodge-podge out of order collection and the charts I was using don’t even show a Dow price in the 15,000 range
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I’ve been seeing MA’s work now for a number of years (a decade or so?) …. although I don’t track it in detail. You go crazy trying.
I think his lines in the sand are useful, but he always leaves options and even in his clearest moments, he’s hard to read in terms of finding real clarity.
Dow 15,000 ??? Not from here, imo. Perhaps in 2021 we see that.
There are EW counts calling for new lows below March ahead, as the E in Cycle wave megaphone 4. AND THOSE SAME COUNTS then call for one final high … 2024? They don’t say when. Temple refers to that last rally as a slow grind. Not a slingshot. EW could be looking for a massive ending diagonal to reflect the impending ‘weakness’ to follow. (EDs have very sharp wave 2 drops after the steep first wave ends. That sets up the tell tale overlap with 4 near its end.)