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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
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Dots

...If the dots don't connect, gather more dots until they do...

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Saturday, June 20, 2015

Watch Out for the "Big Freeze" (Bull Squeeze)

From the Monthly chart of the Dow Jones Composite Index, I'm seeing a "dinosaur" formation from 1999 to the present (first the tail, then legs, neck, and finally the head and nose -- where price is now). We all know that dinosaurs became extinct...my gut tells me that this present dinosaur bull run is not sustainable -- and likely due for a very big fall -- possibly in a 2-tier drop (big drop, small bounce, and big drop).

There are three reasons why major support lies between 4733 and 4900 on this index, which, technically, could be hit by December 2015...there is a tri-Fibonacci confluence at that spot (denoted by the red rectangle).

Watch out for the "big freeze" (bull squeeze) by Christmas.