To use chat, please login.
Back to contacts

Enter The Dragon

street_pips (street_pips)
May 15 at 10:01
9 posts
I keep trying to post the chart with this but it won't let me, so sorry you just gotta go see it for yourself.
But I noticed that the Dow is now forming a evening star pattern on the monthly chart, and the 50 SMA is far from the current market price.
If you look at the chart online it's an evening star, but in my brokerage account it seems to be a dragonfly doji.

If the new candle on the monthly chart opens lower and forms a dragonfly doji, then that's a sell signal. So I'm looking at a couple of things, before the candle closes.

1) Japan's Debt-To-GDP ratio is above 200% at over $11 Trillion, and US has 1/3 of the debt.
2) US Gov's New Tax-bill proposal on capital gains.
3) Fed-BOJ-ECB interest decisions next month.
4) All time highs on bitcoin and Dow at the same time.
5) ICE re-structures of LIBOR rates.
6) USD/JPY on monthly downtrend channel.

I see a lot of correlations to next months decisions that might make a difference in the Global markets, which I'm calling 'Enter The Dragon'

(it looks like an evening star, but I see it forming a dragonfly doji)

The rawest thing about this whole situation is that the 50 SMA is around 20,000 on the DOW.

I'm watching EUR/JPY-EUR/USD-USD/JPY hedge. Plus Apple stock and The Dow.

What will you guys be watching next month?

Please login to comment .