armstrong ....wonder what his spin will be when the dow makes its new al ltime high along with the nasd and nas 100 which are allready there along with the nyad
Armstrong told his world outlook conference attendees last year there would be a decline in the market in the first quarter of this year and if you listen to the interview linked above he told Financial Sense network that the market would find support in March, have a strong rally into June and selloff into July with the probability it will sell off again going into sept - October and he thinks the Dow could take out the march low but he also noted the Nasdaq is much stronger and it bottomed in 2003 not 2009 as the dow and spx did and he said Amazon is turning into a blue chip.
He also says he thinks Trump will win again and in 1985 his AI computer 'Socrates' predicted that a 3rd party or 3rd party like candidate (Trump was a member of Ross Perot's Reform party before and was an outsider to the Republican party) would win the 2016 election! His computer also predicted that civil unrest and unemployment would shoot up this year. He also says the markets can go into a strong bull market for a couple of years after the election, so he is not a perma-bear and he was predicting 40k dow before with it eventually getting up to 65k, not sure if he still thinks it can go that high since the virus came.
As for me and why I think the market will go down into mid July, it is because of the same oscillator that predicted a sell off last December into late March to early April. Which you can see on the attached chart, also the VIX chart has a signal for a vix high in mid July. The same oscillator predicted the low on Nov. 12, 2019 to the day in August which was posted on the gold forum here. I have predicted dozens of turns with this oscillator, may times to within a couple of days weeks or months ahead, but it is not always easy, nobody is perfect in predicting the future. In early 2007 I posted on this board that I had a signal for a big low in the HGX for spring of 2009 and in 1999 August I predicted the low months before it happened in Gold, that signal was actually confirmed in 1993, but wtfdik, eh cheif, "consider the source".
Edited by Russ, 21 June 2020 - 10:44 PM.
"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstronghttp://marketvisions.blogspot.com/