Whilst Hurricane Michael battered south east United States in the areas worst storm for decades, the stock market too was hit by a storm of selling Wednesday catching market participants by surprise as the Dow closed sharply lower by 831 points at 25598 in it's worst one day fall since February 8th when it fell by 1033 points.

However, It's now nearly 3 months since I published my advanced warning of what to expect for October and the whole of the remainder of 2018 on the 21st of July 2018 that was first made available to Patrons who support my work. So to get immediate First Access to ALL of my analysis and trend forecasts then do consider becoming a Patron by supporting my work for as little as just $3 per month. https://www.patreon.com/Nadeem_Walayat.

And as I stated in my previous 2 updates of 9th Sept and 26th August that I expected the then relatively stronger Dow to resolve towards convergence with my forecast rather than to trend to a higher Dow target than my forecast of 27,000 by late December 2018.

11 Sep 2018 - Stock Market Trend Forecast Update

Which Wednesdays price action is a confirmation of convergence towards trend forecast.

Therefore, some 11 weeks into the trend forecast the Dow remains on track towards achieving it's forecast trend trajectory as the market oscillates around my trend forecast so it is not necessary for a more in-depth analysis at this point in time.

The bottom line is that the Dow currently has further to fall to the downside, and in fact it is highly likely that the Dow will now undershoot my forecast to the downside. Where I would not be surprised if the Dow trades down to 24,250.

And remember to get immediate First Access to ALL of my analysis and trend forecasts then do consider becoming a Patron by supporting my work for just $3 per month. https://www.patreon.com/Nadeem_Walayat.

Your analyst,

Nadeem Walayat

http://www.marketoracle.co.uk

Nadeem Walayat has over 30 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

Nadeem Walayat Archive

Only logged in users are allowed to post comments. Register/ Log in

The Market Oracle is a FREE Financial Markets Forecasting & Analysis web-site.
(c) 2005-2024 MarketOracle.co.uk (Market Oracle Ltd) - Market Oracle Ltd asserts copyright on all articles authored by our editorial team and all comments posted. Any and all information provided within the web-site, is for general information purposes only and Market Oracle Ltd do not warrant the accuracy, timeliness or suitability of any information provided on this site. nor is or shall be deemed to constitute, financial or any other advice or recommendation by us. and are also not meant to be investment advice or solicitation or recommendation to establish market positions. We do not give investment advice and our comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to enter into a market position either stock, option, futures contract, bonds, commodity or any other financial instrument at any time. We recommend that independent professional advice is obtained before you make any investment or trading decisions. By using this site you agree to this sites Terms of Use. From time to time we promote or endorse certain products / services that we believe are worthy of your time and attention. In return for that endorsement and only in the cases where you purchase directly though us may we be compensated by the producers of those products.