https://chartfreak.com/wp-content/uploads/sites/18/2020/01/RollerCoaster.jpg 608 837 Alex - Chart Freak https://www.chartfreak.com/wp-content/uploads/sites/18/2019/11/Chart-Freak-site-logo.png Alex - Chart Freak2020-01-28 12:13:172020-01-28 12:13:17Jan 28th Pre-Fed Trading
JUST A QUICK REALITY CHECK TO START WITH - "I saw on the news that the Virus caused the markets to sell off?".
Well, I have been showing the cycle count in the markets for a while as one that is entering a top area. This was last Wednesday JAN 22 on day 33 and I wanted to pointed out that one daily cycle peaked on day 32. Then the next one peaked on day 39, so we really could top & drop at any time, so we expected a pull back and anything could trigger it really.
THIS IS THE REASON? When The U.S. killed an top Iranian leader & Iran fired back, all of the news was that this could escalate ferociously, but the markets didn't crash then? Now is a virus really causing this drop? Not really. The markets were overbought & peaking on day 33, 34, & 35 and then we saw that bearish engulfing Friday. They were due to fall because of being this late in the cycle count. Certain sources will always try to give a reason as to why a market is pulling back or rising. In reality, it is often just the ebb & flow of the markets...Read More
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