Reepp
Reepp is a disruptor in the financial services & investment industries. Our message is contrary to conventional wisdom. It is bold, powerful and controversial. What you don't know about money with kill you financially. Ask the countless millions who are struggling financially and reliant on friends, family and government welfare programs to help ends meet. Your financial future depends on it!
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March 16, 2020
Here's a quick analysis for the stock market in the short term.
I posted three charts below as a reference.
In Chart 1 you will see that the Dow Jones today fell exactly to the 8-yr support line. That's how technical trading works.
That support line should act like a floor and keep prices above it. If it does it's job, the market should rally and continue to move back higher. If prices fall below that support line, we are heading to the next floor which is around 18,000 as shown in Chart 2.
Now if things really spiral out of control due to the coronavirus, Chart 3 represents the worst case scenario which is a drop to an extremely strong support line around the 9,000 level.
If that occurs, then we will definitely be in an official bear market and probably won't revisit the recent market highs of 29,000 for many years to come. Yes, I did say years!
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