Continue to maintain a LONG/HOLD position if invested -OR- be in CASH if not.
2/3/2014 – Another ugly day for the market with the Dow Jones being down -326 points (-2.08%) and the Nasdaq being down -107 points or (-2.61%).
Again, based on my mathematical work, this is not a correction. As my earlier post “Market Top” from two weeks ago outlined and explained, December 31st, 2013 was indeed the top of the bull market that started in March of 2009 and the beginning of the final bear market leg that will take us into the 2017 cyclical bear market bottom.
Even though the market continues to go down, we still need a confirmation before taking a short position. As such, I continue to anticipate the market to bounce into the March time frame before resuming its bear market. If you remember, the market left a number of open gaps in the 16,400 area that will “technically” need to be closed.
Short-Term Projections:
(***This is the only time I will provide short-term projections here. They will only be available in our premium section thereafter).
My mathematical work shows two points of force coming in February. One coming up this Friday and the other one on February 17th. Based on my mathematical work, I believe February 17th will be the bottom of this bear move, reversal and subsequent bounce into the March of 2014. If market confirms, we are looking at the 15,025 on the DOW as our projected negative price target.
However, if the market gets there sooner, there is a good chance that this Friday will be a turning point. I will keep you posted. Either way, we have to wait for a confirmation before taking our long position.
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Stock Market Update. InvestWithAlex.com. February 3rd, 2014 Google