Otay buckwheat...Buckwheat was my fav of the "Our Gang" crowd...well...I thought little Darla was a hottie and therefore my real fav.
Hmmm...the trendline is a ten year up trendline. Price is still a long way from the controlling trendline. Manufactured downturn to harm Trump...could be...would not surprise me to find out that it is manufactured to destroy Trump. The PTB(powers that be), call them what you will, is deep and corrupt. They just know they were meant to control the all of creation. They fancy themselves gods. They think we(The People) are nothing but ants put here to bow to their every whim.
The Fed raising interest rate...possibly stupid but...
She was overbought. She needed to correct. We all know that these things go down faster than they go up. They never allow you a chance to get in...or out, as the case may be, before they make their big moves. I said something a while back about waiting until it breaks out of the range and it may happen so fast as to allow little time for entry(or exit). There ya go.
Not that I's care to ride this out but that's what I'm telling the younger family members to do...when they ask. I tell them...keep putting money in and don't look at it for twenty years. One of two things will be the case. One...you'll be wealthy or, two...you'll have some stock of some value which is better than having nothing. If something happens that the stock market is not higher in 20 years than it is now...money will likely be the least of your worries.
Technically...if you're a trendline believer...This thing has been going up at a rate of X price over Y time. I didn't measure it but there's a line showing it. The vertical lines, again, is 120 months from the start of this 10 year uptrend. It looks like one of those pictures where price is due to be somewhere else at the 10 year mark. To say...sometimes price breaks and moves on or near these time points. Sometimes, they have a "big blast" to get to a price by the time it's supposed to be there. This is starting to look like one of those cases.
Where is it supposed to be by 120 months? Who knows? If I was forced to guess, I'd say it will give proper homage to the long term trendline before it goes to a point between 18000 and 17250(the 50% point). There's a metaphysical point on the chart...Gann's vaunted "price equals time". Gann explains this point as moving up X number of points in X number of time which places price and time on the 1x1 line(45 degree angle). That's one way to look at it. The mundane way...the metaphysical way...and I say metaphysical because it's not exactly a measurable point...it's a point in theory and Gann does mention this...where price is at a number equal to the number of days,weeks,months the move has lasted.
Where is that "metaphysical"? Well, price is very nearly 120 months...what is the corresponding price number? 120 in price. Well, it ain't going to 120. That number is out of play, it belonged to a different time...so to, 1200. 1200 belonged to and in the 80's. Today we deal in bigger numbers...12,000.
For price and time to be equal...it needs to be at 12000 in 120 months for price and time to be equal. 12=12. So...if this is one of those times where price rushes to balance with time...it will be at 12000 by time 120. That would be one nasty reset.
I hope that doesn't happen, although I did read an article whereby the author describes a coming decoupling of economy to DOW. Had the theory that Trumps "populism" will have the effect of giving power back to the people and away from the PTB. Necessarily causing a downdraft in the markets due to that being the domain of the PTB. I don't know about that because there's a lot of The People invested n the markets.