The "Math Path" to DOW 30,000
Many market "experts" have been predicting a market top and some even hinting at a recession... Those who think we're currently in a recession must not have lived through the financial crisis of 2008-2009, or when the Dot com bubble burst, or when the bottom fell out of the DOW in 1987...
We're not in the prediction business but we do like to apply technical analysis to provide some insights into where the market may or may not be headed. We can be a bull and/or a bear, we can go from bullish to bearish to neutral as the market changes.
With all the advances in charting software there are those who can reasonably create a chart with simple support/resistance and trend but when it comes to Fibonacci's... boy we sure do see the use of Fibs all over the map.
Our traders have deep understandings and applications of Fibs to create bi-directional price targets for virtually any chart. But when it comes to /YM there currently aren't any downside active Fibs on the weekly chart. So does that mean the chart will continue to endlessly go up? Not exactly...
Sure, lower time frame charts either do now or will have downward active Fibs but we've mapped out a monthly/weekly chart path to some potential "turning points" and for all of those who claim we're in a recession simply have forgotten the path we've taken from DOW 5000 area just a short decade ago.
Enjoy your free TOS chart link for /YM from your friends at ChartPros! http://tos.mx/xrWXS5Q