tuesday Sept 13, 2022
Silver finally took off yesterday advancing 5.82% just over a dollar. /first Target is the old high under $21 in August. But I am thinking this may be along term low for silver. Currencies are in trouble around the world. See the WSJ article today on US innovation driving the strong dollar.
we have been warning a bear market is unfolding. This dates back to 1788, a Fibonacci number of 233 years. We noted the collapse in FB and NFLX suggesting the entire market could fall that far as well. That prediction is now coming true.
I annotated this pre-market graph of the INDU to date this year at 7 555 AM CST.
Elliott Waves work well when the mood is strong as it is now. Wave One was 7,000 points down. If One is 61.8% of Wave Three, Three will extend
7,000 / .618 = 11, 326. 34,000 - 11, 326 = 22,674.
I drew a horizontal red line at that level, and sure enough there is some past support there.
The 125 bar MA on the monthly chart is at that level now. The media claims the Dems are llooking better in the polls prior to mid terms. This is what they always say. No one in the media is noticing the unfolding bear market. The bull market helped Trump. The Bear market will not help the Dems as all examine their reduced 401Ks
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