12/1 correction
I predict that the index will pull back dramatically (crash) along with NASDAQ the S&P 500 index. From the media stand point, December 1st begins state wide shutdowns due to fears of the COVID cases rising. In other words March was round 1, December to begin round 2.
And from the analytic stand point, in the chart above I discovered what I believe to be the major trend and it’s currently trading on resistance levels. And in light of a recent event, the DOW (as we all know) did make history reaching 30,000 points leaving me more reason to believe in the possibility of a correction at the least.
Lastly, from the historical stand point, each time the index has made contact with the major resistance and pulled back it was identified as a crash. For example, February of 2018 DOW set a historical record buy fall 1,175.21 points in a single day. Followed by another drop over 1000 points three days later. Later that year, the October 2018 Crash that lost the stock market over $2 trillion.
And only two years later (2020) it seems to look like we’re in a position where history will repeat itself and give us two crashes in the same year. The only difference being the reason which it this case is the pandemic.
And from the analytic stand point, in the chart above I discovered what I believe to be the major trend and it’s currently trading on resistance levels. And in light of a recent event, the DOW (as we all know) did make history reaching 30,000 points leaving me more reason to believe in the possibility of a correction at the least.
Lastly, from the historical stand point, each time the index has made contact with the major resistance and pulled back it was identified as a crash. For example, February of 2018 DOW set a historical record buy fall 1,175.21 points in a single day. Followed by another drop over 1000 points three days later. Later that year, the October 2018 Crash that lost the stock market over $2 trillion.
And only two years later (2020) it seems to look like we’re in a position where history will repeat itself and give us two crashes in the same year. The only difference being the reason which it this case is the pandemic.
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