The fact that the stock markets are crashing into the 2015.75 turning point, rather than making a major high, indicates what we should expect to unfold in the future. In 1987, the low was on the day of the ECM, as was the case in 1994, whereas 1998.55 was the high in the Dow that day. So a low suggests higher highs, whereas a high at this point in time will mean a profound longer-term correction.
So far, so good. We may shake the tree and send money running into the waiting arms of government — so look out for the aftermath.
