You can see it right here, on my latest AI chart for the Dow. It should be rolling over and should head lower into late March before bottoming.
Just a pullback. No crashes. Support at 17,500 to 18,500.
That may seem like a steep decline, even to 18,500, and it is worth getting out if you are heavily invested, or hedging with an inverse ETF.
But it’s not the disaster many are calling for. Once it bottoms, the capital flight into the U.S. will resume in spades and the Dow will be off to 25,000, then even higher, to at least 32,000.
Stay tuned, very tuned in to my writings and analysis of the gold market. In fact, of all major markets. Plus, as I noted last week, be sure to read my E-wave columns each Monday, Wednesday and Friday afternoon published around 4 p.m. EST. They are short, but very insightful.
The SPDR Dow Jones Industrial Average ETF (NYSE:DIA) fell $0.19 (-0.1%) in premarket trading Wednesday. Year-to-date, DIA has gained 0.29%, versus a 1.22% rise in the benchmark S&P 500 index during the same period.
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