For months, our computer has been targeting next week – the week of December 15th. This target appears poised to present a low perhaps on Monday, which is also a panic cycle target.
We can see that the Dow has remained nicely within the upward channel. So far it has not broken key support nor has it penetrated key resistance. This is a normal trending market so far.
Next week should provide a turning point. We then have a Directional Change the following week. Mid January will be the next target area. Keep in mind we need a weekly close below 17235 to suggest further downside into January.
