The Long Crisis

For the last several weeks we’ve been very concerned that all the major indexes are in “thin air” and have exceeded some key Fibonacci retracement levels. But certainly, the poor price action over the past few days, with the Dow closing Friday at 10120. 26, down 115. 75 points, is a strong indication that the concerns are justified.

This new short video explores that and looks at a key Japanese candlestick formation that could really make a difference and be the first clue in the demise of the Dow. The fact that early in the trading day the Dow rallied over 100 points on news that GDP for the fourth quarter of 2009 expanded at a 5.7% rate and then reversed in the afternoon to finish about 53 points lower is certainly bearish price action.

In the video I’ll also show and share with you a specific number to look for in February. Should this level be broken, then it will signal a major reversal to the downside for the Dow. We are not talking about a minor correction here, but a complete trend reversal, one that will be very violent and catch many traders by surprise.

Watch the video you see if it all makes sense to you. As always our videos are free to watch and there is no need to register. Bear Market Wave 3 Video Enjoy the video and let us know what you think on our blog.

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