Due to the latest intervention by central banks, daily charts are seriously overextended, with risk of Wile E. Coyote waterfall sell off. The topping process of daily charts has been more protracted than I expected but the bungee cord will snap back. It always does. Grossly overextended markets replete with short covering can result in nasty crashes. Due to the lack of a much needed equity retracement earlier, I’m withdrawing my proposed DOW target of 14,600. The market is too unstable and too unhealthy to project that far. Central bank intervention dominates the markets and central bank intervention also guarantees the next big crash will be worse than 2008. Presumably they will try to avoid this happening before the US elections. But it will happen eventually. Guaranteed.
Daily chart significant down legs commencing ~ SPX, DOW, NASDAQ,
NZDUSD, AUDUSD, GBPUSD, PLATINUM, GOLD, SILVER, CRUDE, COPPER.