Triple top market pattern currently matching Oct last year drop

I'm looking at the charts for the market. I currently have the market topping out at around 26340 and then dropping huge like the end of the year last year before Christmass.



26340 is where my trendline is predicting resistance. I am currently in put options on multiple stocks and in New Gold Inc. I'm expecting a major market drop over the next few days that resembles last year.

originally posted by: toysforadults
I'm looking at the charts for the market. I currently have the market topping out at around 26340 and then dropping huge like the end of the year last year before Christmass.

26340 is where my trendline is predicting resistance. I am currently in put options on multiple stocks and in New Gold Inc. I'm expecting a major market drop over the next few days that resembles last year.

S & F

But perhaps drop not just yet, one more peak/push to somewhere over 27000, then the drop....

I too am expecting a 40-50% correction. It could be even deeper than that.

a reply to: M5xaz

We'll see. It's been hitting resistance all day almost exactly 26340. If it closes around that mark I'm expecting it to be blood red all week. Friday Powell comes out and makes the market bleed with a Dovish position. No drop.

Todays a bull trap, dead cat bounce (almost).

a reply to: projectvxn

I picked up short term options that expire Friday and next Friday. My friday (this week) puts are all red but I expect that to change tomorrow. My mining stocks are going way up, volume went up 2 million+ starting yesterday

the big boys are moving into gold and silver

I drew another trendline on last years drop, as you can see this year is a sharper decline and a tighter consolidation period

a reply to: toysforadults

I'm moving into silver and Bitcoin. So yeah, the writing is on the wall.

a reply to: projectvxn

did you catch the drop on BTC last week? someone dumped 2 billion on the market and it tanked almost $700 recovered by tuesday

I'm all in on New Gold btw

I bought in at 1.17

Good luck guys and I mean that sincerely. Just don't over-think it or bet on a prediction.

Having said that, I'm the last one to give market advice so there's that.

a reply to: toysforadults

meh, there is no reason for a big collapse today and if we get another dip we will recover from it quickly.

a reply to: toysforadults

That's why bitcoin is a bit of a scam, it does not take all that much money to manipulate the market for it because there is not that much of it, easy to do a pump and dump.

This is reminding me of Zero Hedge, with their incessant economic doom porn. Yeah, eventually there will be a recession, but it'll basically be a case of the blind squirrel eventually stumbling across a nut.

originally posted by: toysforadults
a reply to: projectvxn

did you catch the drop on BTC last week? someone dumped 2 billion on the market and it tanked almost $700 recovered by tuesday

I'm all in on New Gold btw

I bought in at 1.17

Can't really go wrong with PM's right now... I am thinking a pretty big correction soon as well.

I've been sitting on Palladium for 3 years now... I am ready for some cheap Ford stock again.

a reply to: Lumenari

I have Ford put options that expire on the 13th right now

Almost sold yesterday it was up 40% but nobody grabbed them

The bulls are taking everyone for a ride right now

a reply to: toysforadults

DOW futures up 230 points right now on news that top Chinese/US officials are going to meet about a trade deal

my mind says that DOW will top 28,000 before year end

past market graphs were the result of unique market factors,
today's market conditions are way different than a year or more past --- so any repeating pattern is just interesting and not an exact repeat of the ever changing/dynamic Result or Position

the Trump economy has new and rewarding elements being returned to the USA businesses that were previously siphoned-off by the China unfair practices towards the innovative USA high tech corps.

the trade-tariff-wars has altered the 'Profits' factors considerably... something that POTUS 44 declared was no longer rebuildable (a vibrant & positive industry return to American soil)

a reply to: toysforadults

I have a decent amount of money in my 401k, and I'm fairly young.
In your opinion, (assuming the market will have a downturn)
would it be wise to pull a large chunk out of my mid to high risk investments and put them into cash/stability of principle, and wait for the downturn? Then, when the market is low, put the money back?
Thanks

a reply to: o0oTOPCATo0o

I'm not a financial adviser

well, I went 90% Cash a little over 2 weeks ago...

I am seeing the former DOW & DD equities I held starting to drop below the redemption price already...
scoping out the proper canned goods for food storage of the 2 year shelf life kind... My local WalMart neighborhood grocery is good for about a dozen items to buy by the case

And I haven't even started on my still/bio-diesel maker Yet

prepping for Nov 2020 ...but Moped Trike drive belt is giving me fits lately...next one will be an 'E' tuk-tuk

ETA

on topic ->
www.youtube.com...

Gerald Celente - Greatest Depression Worse than Great Depression
35 minutes, 1 Oct 2019 release