A Catalyst For Correction5 Mar 2020 22:09
I’m reposting this message again because Velo came along with a dump truck and buried it underneath a mountain of garbage.
Valuations in the Dow, even after recent falls, are still way too high - but for how much longer?
Dow is down over one thousand points to 26,000 today, but the bulls aren’t giving up.
I predict the Dow will drop 2000 points in a day soon. Capitulation always happens when the bulls become exhausted; and that time is approaching.
As Rooster said in an excellent post - the market looks for reasons to correct when valuations get too high
And by god, they’ve found it in the coronavirus.
Now all we have to wait for is capitulation.
Dow to bottom out at 22500 is my guess.
Ftse will follow of course 5800?
Toff