Submitted by hummmduno t3_11ek6i5 in wallstreetbets
Fibocrypto t1_jaejeuo wrote
OP, For what it's worth I have one overlay for you to consider followed by 2 key dates that I think are important this year .
This pattern if you wish to call it that is the Dow Jones industrial average from the year 2022 to date and in the background is the years 1962-1963 . Both being weekly bars Additionally I'm focused on march 20-21 and June 10 as my 2 most important key dates this year . This chart was updated as of Fridays close . Call us both regards . Looking at the Dow daily chart and using the 14 day RSI The Dow tends to have strong bounces following a poke below 30 and while rare a poke below 27 is not an impossible possibility.
hummmduno OP t1_jaek1je wrote
Your pattern analysis may be flawed if you are relying on a short and inconclusive pattern. The pattern could be a mere coincidence, so you should ask yourself whether you are following the pattern out of a personal bias or a legitimate reason. It's important to consider whether you can find other patterns that confirm yours. If you can't, your analysis may not be reliable.
grimkhor t1_jaen5pl wrote
>The pattern could be a mere coincidence
How high up ur but is that stick that so say another mans crayons are a coincidence but ur random patterns are a fact. How about all of that is a coincidence.
hummmduno OP t1_jaenpxb wrote
Time will tell.
Fibocrypto t1_jaelzxa wrote
Then again I am looking out further than you are and I'm using a longer pattern and I'm showing a longer historical correlation than you are. I have backed up my pattern by including a simple indicator and I have included a timing component which will help to prove myself correct or wrong . Right or wrong the market is going to decide . I was just trying to add content to your content . I've still got 2 to 3 weeks before I take on any leveraged positions . We will know soon enough . I'm going to correct the above . We both are looking at similar durations so I take that back . Good luck and I hope we both come out ahead over the rest of the year.
hummmduno OP t1_jaen2nc wrote
I just think that your pattern might be correlation without causation. Just look at my cyan pattern and check just how much its correlated. But we will see eventually.
Fibocrypto t1_jaewyek wrote
My pattern is based upon the 60 year cycle. If this correlation is to continue then the Dow will basically double between now and the year 2026 and then a long term bear market would be expected. We will find out soon enough . For me and for other reasons March 20-21 and June 10 will be important to me this year and both should be some sort of a low . Your work from the little I can see kind of fit with that June period .
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