DOW MEGAPHONE PATTERN 2020
The Megaphone Warning has sounded.
Attention, all traders BEWARE of the Dow Megaphone pattern. Just a month off as I called a Bottom and a forthcoming MARKET CORRECTION.
As of November 1, 2019 the tides are changing and I can hear the Megaphone being turned on. The Dow is now 27,300 but beware...
Better watch out, better not cry, ProTrader Mike is going to tell you why...the Dow is about to take a crashing you know....it's the Megaphone Pattern! take a look at this chart and compare to the 2015 chart, almost exactly same with big gap to fill on the downside.
So what's the play? Long UVXY now at $18.00 range and if the market drops volatility comes in and this stock flies high once again. The high of UVXY on 8/15/2019 was $39.67 so I would consider this a nice discount.
Dow Megaphone can you hear me?
Keep it profitable,