If you recall, we delivered an exact hit on December 26th, 2018 bottom. While everyone was panicking our work projected an important bottom on December 27th (+/- 1 trading day) on the Dow at 21,725 (+/- 50 points). An actual bottom was put in place on December 26th at 21,713.
The stage was set for a rally/bounce and boy did the market do just that. Having said that, subsequent market action has proven to be much more difficult than originally anticipated. You see, our work was projecting an important TIME turning point in the beginning of February. The Dow did top out on February 6th, but that top was short lived.
It soon became apparent what was happening and we talked about it in our Premium Section for nearly two months. Most indices were compressing into their respective rising wedges – signaling an eventual demise of the rally. At the time we were looking at various charts, including these……
As we approached the termination phase of these wedges an important Time/Price point of force was coming on the Dow on April 21st (+/- 2 trading days). We theorized, at the time, that this would be the point that would end the rally/bounce. Sure enough, the Dow topped out on April 23rd and a fairly large scale sell-off followed.
During this sell-off the Dow put in an impressive bottom on May 13th. However, we were quick to dismiss this bottom because the Dow did not hit any time or price points of force. The next significant TIME turning point of interest was arriving on May 31st – Friday (+/- 2 trading days).
As we got closer two potential PRICE turning points were identified on the Dow. One at 24,870 and the other at 24,610 (+/- 50 points each). On Friday, May 31st the Dow sliced though the first point. That forced us to concentrate on the second point on Monday. The bottom was achieved on 24,681 or just 21 points outside of our window.
What happens next?
You don’t have to guess what the stock market will do next under today’s extreme conditions. If you would like to find out exactly what the stock market will do next, in both price and time, based on our timing and mathematical work, please Click Here.
Please Note: Our latest call was a direct hit. While everyone was panicking our work projected an important bottom on December 27th (+/- 1 trading day) on the Dow at 21,725 (+/- 50 points). An actual bottom was put in place on December 26th at 21,713.