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Long Term Chart Different Conclusion

One of the posters over on Capitalstool.com’s Stool Pigeons Wire posted this chart from the blog of Barry Ritholtz.

My take on the chart is different. What it says to me is that we are only now just half way down in this market. Here’s how it looks to me.


Click to view full size
Click to view full size

The market first reached the current level on this oscillator roughly in the middle of 1931, just a little more than half way through the move in time, and about half way in price.

That suggests to me that this move is about halfway done.

Which would mean that the ultimate price objective is a negative number.

Obviously, the market can’t go negative, but it would seem to be headed toward much lower levels.

Check out our latest long term outlook update for more on this subject. Try the Professional Edition risk free for thirty days. If, within that time, you don’t find the information useful, I will give you a full refund. It’s that simple. Click here for more information.

4 Comments

  1. Lee Adler

    Barry-

    Good timing! I just don’t think that it suggests a longer term bottom here. I’ll send you a copy of my latest long term update so that you can see my entire analysis.

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