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Possible Turning Point in Dow and other indices

21st-28th of June 2021 will probably be a turning point in the different indices. This analysis is done in Dow Jones since Dow tends to drag the other indices down if it is weak and up if it is strong.
Different time cycles has been used such as the fibonacci numbers 21, 34, 55 and 144. They all align somewhat perfectly to the day late in June. This is a weekly chart.
Furthermore, the 72-week cycle (learned from Tom Hougaard and I take no credit whatsoever of this cycle) also aligns somewhat perfectly to the days late in June.
I did this research a week ago but I thought that I wanted to publish it here as it might be interesting to some people.

Disclaimer:
I am not a fortune teller and I do not know why or exactly when the market will make a turn. I merely did some research on Dow and saw these time cycles align on the weekly chart. When these cycles align they tend to make the market turn for some reason as history has shown us.

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So far the analysis is still intact. I bet that the market-turn will take place at the Monday of 28th of June. If we see that the Friday session is not able to trade above the highs of Thursdays session then I will go max short and bet that the turn will form on the Monday.

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Still intact. Will be looking for weakness the week before the 28th of June. Also curious to know what the new G7 Tax Treaty will affect the tech companies.

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Still intact. We are beginning to see weakness and a forming Double Top on a weekly chart on the Dow.

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Given this a fair deal of thought. Usually you should want a market that keeps making new highs before making a turn at the 72-week cycle or Fibonacci cycles. Last week we saw weakness in the Dow and it keeps floating around the 34.000 area today as if there is no buyers. This could be a sign that the market has taken a pause or a break from the continuous bull market and afterwards will continue higher. However, these cycles succeed more often than they fail, which leads me to observe in the coming days. I hope to get a good short position in Friday or Monday BUT it depends if we see signs of weakness. If not, then I will expect it to go higher.

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Very important day today. Observing again today. I will most certainly observe if the market is unable to trade above yesterdays highs in the intra day session.

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I am now beginning to slowly short the Dow Jones Indice. I have added to my position a few times.

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I went aggressively short yesterday. However, Dow did show some strength after 7 pm (GMT). Today, pre-market, Dow is basically just going back and forth. I would have liked Dow to close near the extreme low.

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Done a lot more research on the 72-week cycle the past few days. One thing one must understand is that this cycle is something that, in the majority of the cases, takes time to develop. This means that, on a weekly chart, I would want to have a bar on either side of this weeks bar in order to make a proper decision as to where the market is headed. Therefore, I would want the next weeks bar to develop as well to see where the price action is leading us. Sometimes the cycle is fast to form like the high in 2007 and the high in february 2020 and sometimes the cycle will take its time to form. IF, and only if we see a correction in the market and the 72-week cycle is valid then I believe we will see a huge correction (not a crash) but Dow will at least lose over 6.500 points.

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Finally we are now seeing real weakness in the Dow, FTSE and Dax, which suggest to me that the high might be here. So far Monday is the highest traded point this week, Tuesday has traded lower and was not able to get above the highs of Monday. Statistically speaking this would lead to lower prices on Wednesday with high probability.
Also note that if Monday is the highest traded day in this week when you compare Monday, Tuesday and Wednesday then that will lead to lower prices on Thursday with a probability rate of 21 out of 25 times. Now if that happens and we get a Friday that is not able to trade above the Highs of Thursday then we will see lower prices on Monday with a probability rate of 20 out of 21 times.

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Market is showing strength every time the market tries to go lower. Dow made a V-reversal yesterday and it also made a strong V-reversal today so far. If it closes near its highs today then I have a strong feeling that this 72-week cycle DID NOT work this time. It needs to go down soon or else it is not showing any weakness.
The past 7 trading days the market shows weakness and then right afterwards it shows strength. It has been in a trading range but tends to show more strength.
Lets show some more patience to see what happens this week.
However, I am not that confident in the cycle anymore.

Order cancelled

I am calling it a week. I've been patient to wait for real weakness in Dow and when the market shortly showed true weakness I placed short positions as fast as possible aggressively. However, the market fell quickly BUT then pretty fast made a v-reversal to show strength. Dow has done this many times for the past few weeks. Some trades were profitable and some were losing.
I must admit that I did not trade the market, I traded the 72-week cycle and the Fibonacci cycles. This lead me to not read the price action well and I did not trade what I saw in the market. I merely traded what I thought would happen AND that is a mistake to do since none of us are fortune tellers.
I guess this is one of the few times that the cycles did not work. However, I still have a strong feeling that the market will take a very bearish direction here in 2021 but I will not trade my gut feeling, I will trade what I am seeing. There is another 72-week cycle coming BUT I will not update you on that one yet. I need to take a break, wonder, think and speculate to understand what is yet to come in the following months.

benjaminstryhn

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benjaminstryhn