This is what annoys me the most about him. For months he has been saying how the Dow is in a consolidation and no new highs until 2020. But now he is pumping this 27K and not a word of 2020. Sorry but I didn't listen to him and saw this coming and added more position in my DIA, SPY and opened a new position in QQQ. Yes I anticipated base off of the weight of the evidence. I'd be happy to post my buys from about 1.5/2 weeks ago.
More importantly is the fact that 27k was a major resistance from 1/2018 which has created a triple top and the implications of a break is big. The longer the resistance(1.5 years) the greater the break/ascent. This, plus the fact we have a Head & Shoulders pattern which is normally a continuation pattern. On any breakout there is always a retracement, 27k in this case, so a decline into the fall is not unusual. Oh and the projection on price is from the Dec/18 low is 32,000 and from the first support around 24,000 it's 30,000. This is all TA, so no mystery.
So, we have resistance at 27k for 1.5 yrs, triple top and a H&S pattern that's usually a continuation pattern. Plus indicators with room to move. Lets not forget millions of traders looking at the same charts and TA. To me this was a buy signal but didn't go to heavy but will buy more on the retracement. Which, if in all the excitement you missed the break is a good entry point.
I'm by no means an expert but this works for me and is available to anyone who wants to use it. Just some observation and actions I took. I guess my point is this could all be done with some research, training and willingness to take the hits(losses) for hardly any cost. In all the years reading MA, buying 1 report and attending 2015 WEC I always fall back on my charts and TA to buy and sell.
I respect that you have more experience in TA and trading than myself, so I read Armstrong 5 years ago back in Oct 2014 forecasting:
https://www.armstrongeconomics.com/uncategorized/so-when-will-we-know/
'..we are looking at a rally into 2017-2018 with the Dow reaching the 25,000-28,000 level. That would be the minimum target objective...'
BANG ON
Did your charting back then come up with the same? (serious q - not being facetious, promise)
Private blog post Jan 1st 2018 ''..Our three primary targets were 18500, 23700, and then 36000-40000. We also mentioned there would be intermediate resistance at the 25000 and 28000 level..This 25,000-28,000 is the new barrier. Once we get through that area, then the next minimum target becomes 32,000...'
So this 32000 number was forecast way b4 the important Dec 2018 low that you used to get that same number.. so how did he do it? What charts did he use? I am honestly interested to know..