Entries by Alex - Chart Freak

Jan 28th Pre-Fed Trading

January 28, 2020 in /by

 

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