DOWJONES UPDATE

DOWJONES;INDUSTRIALS is possibly in its last stages of its counter trend move which started from OCTOBER Lows. May be it already peaked at 34,600 or have 1 more high pending above that: doesn’t matter this move in all probabilities is near its end!
Since MARCH I have been posting BEARISH outlook on U.S. MARKETS. and markets have corrected fare enough since then. BULLISH or BEARISH Outlook in Gann Theory is measured by previous MARKET CYCLES.

This can go back several days,weeks,months or years. There are certain rules which are classified in Gann Theory which makes the job easy for finding which CYCLE is likely to repeat.
Now when we project (MARKET CYCLES) that not only specify the STOCK MARKETS particularly, MARKET CYCLE also includes ECONOMIC CYCLE, CORPORATE PROFIT CYCLE, WAR CYCLES and TRANSFORMATION CYCLES. Now when we combine these CYCLES that equals the complete MARKET CYCLE.
Later this MARKET CYCLE is projected using (TIME CYCLES). You just cannot project CYCLES using PRICE. In short term that’s fine but beyond then that PRICE holds very less significance. Currently we are following MARKET CYCLE of 1972-1973 in UNITED STATES.
It’s not the aim of this post to show the similarities between that and current CYCLE. The point which we need to understand is: we are likely to repeat that CYCLE which technically means much lower levels in EQUITIES. So when you are absolutely certain with that, then you don’t have any fear or greed.
No matter what the majority feels this BEAR MARKET is not over and the sharpest decline is yet to occur going forward. For short term $DJI have (HARMONIC CHANNEL) support at 33,200 which once breaks would open way for 32,400 31625 and 30,800 in coming days. For medium term would look for 23,000-25,000 zone for a durable BOTTOM!
70% of new investors have no idea what is a BEAR MARKET. The day when you realise that it would be all over. Few BEARISH PATTERNS are very odd and TIME consuming, but what follows next usually hits you very hard, if you get stuck on wrong side of MARKET CYCLE, Let’s see!