Loading ...I read both Edelson and Armstrong and Edelson does follow Armstrong.
Armstrong put out numbers awhile back when China devalued there currency and crashed and the rest is history as everyone followed. Keep a eye on China. Then Chija set limits on drops closing the markets. One day it was opem for about 26 minutes making it worse as more then wanted to be the first to sell when it opened again the next day.
Anyways Armstring had a few numbers of support one if it didn’t break we head back up into 2017 another if we break we go down then have a sling shot move. Got a kick out of a friend here who said sling shot move what to the down? Anyways these are his numbers he put out on the 7-8 th of this month. Now look at Edelsons recent post. He follows Armstrong, don’t know if his words are all the same but his recent take is that of Armstrongs.
Here’s something I saved on Armstrong DOW
The U.S. share market has fallen following the problems in China. We elected the Daily Bearish Reversal at the 16933 level and this warned of a test of the next important support zone. A daily closing below 15980 will warn that we may in fact penetrate last year’s low and pull off a slingshot move. We previously warned: “We have initial support forming at the 16886 level and a weekly closing below that will confirm a continued decline. Our daily models warn of important su
Our Panic Cycles began to turn up this week moving into next week. If we penetrate last year’s low of 15370, then we may see a drop to retest the major support area in the 12875-13100 area. We should break the market FIRSTand this appears to be setting up for the extension beyond 2017. A monthly closing below 16013 will signal that the market should crack and then we will be set up for a really wild rise.