Subscriber Steve asked for some downside targets on the Dow, so here they are. Whatever rally comes from this should be a humdinger. The question then is, from which level will it ignite? Dow has not yet lost support but this week's proceedings are, err, concerning.The monthly chart now comes into play to give us some perspective. It's a ship of fools, yeh, but it may also bring some opportunity. Patience.
Edit (2:03) To be clear, whatever low lay ahead, it will most likely not end the bear market. It will just be a trade. I have a feeling that whatever the ultimate low ends up being, it is a number that right now would sound like it was forecast by a lunatic. Just like most people would have thought a total meltdown of the credit and financial systems leading into socialism was a lunatic forecast a couple years ago.
