DJI: The Fed want to hike what better way of achieving this than having a bear market DJI

DJI

If you never look at another chart I send, please look at this one...It is the monthly DJI.... Strong uptrend since 2009....very steep uptrend since 2016...then this year ..no....it stalled at the beginning of the year...Now as I stated then I expected that leg lower to be like 2016...a bear correction to a bullish trend...True to form.. DJI recovered and went on the post new ATHs...Now this is where it gets interesting...On the very day it posted the ATH.. it closed at the lows...huh....why would it do that said my little brain as I scrambled to sell S&P and FTSE.....Now as the month has progressed we have an unprecedented phenomenon...The DJI is actually going to post a reversal Month from its ATHs...The monthly indicators I look at have all, every one of them turned negative...and the stochastics that was showing overbought since 2016 has turned lower from really quite neutral levels...Now...what does this tell us...well it tells me...alerts me to the fact that the DJI along with all other stock markets are not just having a bear market correction...this price action is conducive with a complete change of trend...have we seen this before...Of course we have seen changes of trend....but nothing like this one will be...and typically end of trends see wild swings in ranges...well...we have truly experience that this year...then to end on a key reversal month....encompassing the ATH is a technical traders dream...The writing is on the wall for this bay...let me tell you....and also this is a funny thing...If the Fed want to hike what better way of achieving this than having a bear market DJI....they can raise rates to support it....quickly...which is a bit different to the usual 1/4% they may or may not do....but these things never pan out as planned...so the fed could be busy the rest of this year...and into next year....To post ATHs and reverse the same month is something I have not seen in any of the markets I look at in 37 years.....So this is a sit up and take notice report....This is going lower...and its going lower a lot...I believe that even keeping the long term uptrend intact the market could easily go down to 19900/19112 without too much bother...and it would still be higher than the highs of 2015....so lets get things into perspective......Every single thing on this longer term cart points to a crash....exceeding the one early on in the year....we may find support around 23555...but more like 22099 the first attempt...bit of correction then 19900 here come with 19112 following.....an b ounce from current levels of the close of last night should find resistance at 25924 to 25976 and this is where we start to build our short DJI position...or we sell a break of 24870...either way we want to be short....