On Thursday, January 17, 2019 the Dow closed above its 50% retracement point between a high of 26,789.08 on October 3, 2018 and a low of 21,712.53 on December 26, 2018. This move supersedes Model @2019-1, Rev. 0 and indicates Market Makers are accelerating their schedule to prepare a meaningful decline that could start as early as next week.
Dow: Brief Decline in the Dow
Based on today’s high of 24,288.61 and a closing price of 24,207.16, adjustments were incorporated with the expectation of a decline to January 24, 2019 (+/- 1 day) and a projected close of 22,942.19 (+/-1%).
Dow: Narrow Range of Trading
The Dow is expected to travel in a narrow range during the first quarter of 2019. The following model provides notional values expected during this period. Adjustments will be provided, as needed.
Current Projected Scenario (Model #2019-1, Rev. 0)
January 15, 2019
Dow closing price: 24,065.59
1. Dow declines to January 18, 2019 (+/- 1 day)
Projected close: 23,091.13 (+/-1%)
2. Dow moves up to February 4, 2019 (+/- 1 day)
Projected close: 23,904.86 (+/- 1%)
3. Dow declines to February 15, 2019 (+/- 1 day)
Projected close: 22,348 (+/-1%)