Monday-Tues-Wed

I see a bit of chopping next week. This chopping back and forth, however, is just putting off the inevitable: A second drop that will be the second half of the double dip that is going to rock us within 2.5 weeks.
Oh, the worst of it isnt over. Lets take a look at things: the structure of the entire thing is still rotten. The global economy is grinding down to a slow beat, and China is undergoing currency manipulation, and we are still printing off billions of dollars a month trying to keep the dollar propped up. In 2008 the government stopped a total 1929 collapse with a 800 Billion Dollar Bailout.  If you want to see a movie made about it how they did it and what they supposedly said (generally) about it while they were meeting discussing it, rent the movie "Wall Street 2: Money Never Sleeps". It actually was a pretty good movie, even though the general consensus was 2 stars. I thought Michael Douglas in particular played a very good mature Gordon Gekko, made more wiser and craftier due to his loss and most of all, seeing that losing Sucks.
But I digress. We are not out of the thick of it yet, and a double bottom will be the temporary sign to get on with things. I expect that to rock us before the end of October.
Lets look at the chart:

On just taking a precursory look, you can see where at first I was unable to come up with a consensus in my mind. While the Williams is in buy position, The ADX looks like it is starting to climb up a bit, which would not suggest a reversal drop. The Aroon on top looks like they are going to both lay down on the bottom, but I would put more weight in the red indicator getting jumpy again. No, I am going to have to look at the candlesticks. What I see is a chart losing steam, stepping down in steps. Also those two big red candles I circled: does that pattern look familiar from before? Unfortunately it does. I expect some sideways walking and then as soon as some f'ed up new hits, the bottom is going to open up again and we are going to freefall a bit like we did 3 weeks ago. For our new double bottom. From there is is up until the 'event' that's coming fall next year. Lets just say that Hillary/Trump is going to have a busy presidency.

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