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Breakwave DRY Bulk Shipping ETF (BDRY) – 6 year weekly chart. Here I present how I believe the economy goes into CRASH LOW around december-2024 where we can see a DB into 2025-Q1.
While BDRY now at HOR.SUPP and at breakpoint. charted cycles forecast an intermediate low coming next October-2023. RED FORK is guidance matching a HALFWAY PATTERN with a PO @ 2.44 which is another 60% lower from todays’ price. BLUE ARROWS as potential scenario.
WORLD ECONOMY IN CRASH MODE since 2021 (or much earlier) with another 1.5 year to go before any recovery; let’s emphasize ‘any’.
IMO. DYODD.
My work agrees on the concept of your up arrow deadcat.
My charts suggest it may begin sooner than autumn, however.
That said, the overall plan looks good.
I’m not certain, but I do use BDRY as a proxy for CRB, which is why I’m not bullish energy as yet either.
Blasted ETF managers though keep killing off funds just as they start to get useful, like NIB and JJG. IMO, they should have to give 12 months advance notice before doing that.
‘… it may begin sooner than autumn’ ; that would be the DEADCAT bounce.
Such could be … for example add a tripe Little cycle within the 2nd Large Dark Blue; just imagine and you can see alignement with former lows. Such would suggest the CRASH is imminent and such suggest that the Support of the shoulders-line will not hold.
Furthermore: the right shoulder is done and a break down should follow finishing the LARGE H&S-pattern setting a DB. Then the deadcat bounce into mid-2024 after then the FLUSH.