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Monday, September 25, 2017

Market Update 9/25/17 - Advanced Charting Techniques, & the Financial #FakeNews

Seeing futures down this morning, as predicted on Friday.

The Fake News at CNBC was reporting this morning, that the Trump administrations new travel restrictions are responsible for the market weakness... a total fabrication!  

The truth is: The market continues to consolidate in the same range... in a complicated combination pattern, as it continues to try to build a base above the (SPX) 2500 level.

SPX - Elliott Wave Combination pattern is labeled (W) - (X) - (Y) - (X), and may complete a final pattern (Z) as soon as today, before breaking out to higher highs.

$SOX wants to pullback to support, but may consolidate a little higher first.

Energy looks like sell, but could hold up for a couple more days, as it did in July. Looking for 3 doji reversal candles in a row.

Gold seems to be building a base. It hasn't seen so much as a snap-back rally since the reversal a few weeks ago...

That's about it.

Markets look like it could complete a major topping formation in a few weeks. Not sure if that means a sudden crash, or just a normal pullback, but I'm not taking any chances. I continue to prepare for the worst, and encourage others to do the same. Stockpile some canned goods, rice, bottled water, and batteries. Stock up on any medications, and freeze some water jugs, so have ice on hand, in the event of a grid collapse. Most these things have a long shelf life, so none of it will go to waste, in the event nothing happens.

Prepare for the worst, and hope for the best. 


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