DJI August 19 Top Setup - Be Prepared!
My expectations are that earnings will come in much weaker than Q2 2018 because of the trade wars and consumer demand decreases. Yes, there will be some positive news, but I believe the markets will change dynamics based on forward guidance and Q2 earnings data, rotate lower and setup a sideways pennant formation that will eventually setup an August 19, 2019 market TOP.
After this Aug 19 date, I believe the US stock market (and global markets) will likely fall 15 to 20%+ setting up a bottom near the end of 2019 or into early 2020. This move is very unexpected by the global traders. Recent psychological levels ($300 SPY, $3000 ES) have already been hit. I believe these levels were critical to the setup for this next leg lower.
I believe skilled technical traders only have about 30 days to prepare for this move and I believe the move lower will initiate in late August or early September.
I urge all skilled technical traders to plan and prepare for this move.
After this Aug 19 date, I believe the US stock market (and global markets) will likely fall 15 to 20%+ setting up a bottom near the end of 2019 or into early 2020. This move is very unexpected by the global traders. Recent psychological levels ($300 SPY, $3000 ES) have already been hit. I believe these levels were critical to the setup for this next leg lower.
I believe skilled technical traders only have about 30 days to prepare for this move and I believe the move lower will initiate in late August or early September.
I urge all skilled technical traders to plan and prepare for this move.
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