{"id":9194,"date":"2016-03-07T07:18:30","date_gmt":"2016-03-07T12:18:30","guid":{"rendered":"https:\/\/z3news.com\/w\/?p=9194"},"modified":"2021-06-06T07:58:24","modified_gmt":"2021-06-06T11:58:24","slug":"market-watching-final-leg-pattern-forming","status":"publish","type":"post","link":"https:\/\/z3news.com\/w\/market-watching-final-leg-pattern-forming\/","title":{"rendered":"Market Watching Final Leg of W Pattern Forming Now"},"content":{"rendered":"

\"old_bridge\"<\/p>\n

A Z3 reader named Faith shared a\u00a0dream yesterday regarding the giant W pattern, which has been forming in the stock market since July 2015.\u00a0Technical analysts refer to the\u00a0W-shaped pattern as a triple-top reversal because it typically indicates a major turning point in a long term trend. This pattern has appeared\u00a0prior to every major stock market crash.<\/p>\n

Here is what Faith saw in her dream:<\/p>\n

This morning I had a dream. Since this was a Sunday morning dream I\u2019m wondering if something significant may unfold this week in the markets. It also took place by my childhood home so those type of dreams tend to be prophetic.<\/p>\n

My parents\u2019 home is in a rural country area. A creek is behind their property so to access the road to their home one must cross a bridge. This old wooden bridge is very unique. You have to go down a steep slope to the bridge. Once you cross the short bridge you then go up a steep incline. Almost like the typical roller coaster. To someone who has never driven on it before, it can take you by surprise.<\/p>\n

In my dream I was walking on the bridge, up the incline and then rounded the corner on the road leading to my parents\u2019 home. I was feeling at peace however I sensed activity going on like people were preparing for something. Along the road I saw something like a banner made of large white squares (posterboard or canvas?). On these squares someone had painted writings on them. I couldn\u2019t make out any of the writings except in the middle of this banner was a white square with a large uncompleted \u201cW\u201d. It looked exactly like the \u201cW\u201d in James\u2019 graph above minus the red fourth leg. It was drawn in blue paint. I stopped, picked up the large \u201cW\u201d square and looked at it for little bit. My dream then continued on unrelated to the \u201cW\u201d.<\/p>\n

Something I forgot to add is that while many country roads are made of gravel\/dirt the county roads where my parents lived are made of white rock. This also may be indicative of things getting \u201crocky\u201d.<\/p><\/blockquote>\n

My Interpretation:<\/strong><\/p>\n

Since she was\u00a0already walking across the bridge at the beginning of the dream and then going up the steep hill, I believe it means we could see continued upward movement in the market as\u00a0the final leg of the W is completed. This leg started the second week of February when the Dow Jones Index was at about 15,700. So far, it has already climbed about 1,300 points to about 17,000.<\/p>\n

Technically, the third top\u00a0is supposed to reach the same level as the first two tops, which would mean the market\u00a0would go up to about 17,900. The two previous tops occurred in July and November 2015. However, the W pattern\u00a0has not always formed perfectly\u00a0in previous crashes, so it does not necessarily have to reach that same level.<\/p>\n

So the question is how much higher will it go? After Faith reached the top, she saw a\u00a0white square showing a large uncompleted W, which she described as looking exactly like the W in my previous post minus the red fourth leg, so I have included that same chart from\u00a0my post on\u00a0February 17, Triple Top Reversal Could Be Forming Now<\/a>. This chart is no longer up to date because the fourth leg has already climbed another\u00a0800 points higher since then, from about 16,200 to about 17,000. So it\u00a0is already over half way to\u00a0the previous tops.<\/p>\n

\"\"<\/p>\n

Since Faith\u00a0saw an uncompleted W after she reached the top, it\u00a0sounds like\u00a0we might see the market turning down prior to reaching the two previous tops.<\/p>\n

After she reached the top, she sensed some activity, like people were preparing for something, which sounds like the rumblings preceding a sharp reversal.<\/p>\n

More Insights:<\/strong><\/p>\n

So far, the W pattern has demonstrated amazing symmetry in the formation of the first three legs. If that trend continues, the fourth leg would reach the top approximately\u00a0next Friday, March 18, or perhaps even sooner if the fourth leg\u00a0remains uncompleted. Either way, it is almost finished.<\/p>\n

Looking into life after the W,\u00a0I have seen three line graphs in the past week showing what I believe are future movements of the\u00a0Dow Jones Index.<\/p>\n