Wednesday, 1 October 2014
Today's plunge in the markets presages a great sell-off
I have joined the bottoms for the last year on the graph, giving me a Support Line. Today the graph plunged downwards to kiss this line.
First day of October and already the Markets are plunging. However, it is not yet conclusive that this is any more than a down-swing within the range of the present uptrend.
The graph will either bounce off the Support Line, indicating that the uptrend will continue for the present, or break through the line, signalling the beginning of the great sell-off. If not now, undoubtedly the sell-off will take place later this month.