The Dow has hit my target – what now?

The Dow's been on a roll. But where will it go from here? John C Burford uses his Fibonacci trading methods to find out.

If you have been following my commentary on the Dow, I have been calling for an extension of the strong rally off the 4 October low and the market has followed my script.

We even have an A-B-C formation, for which I had been hoping, which was put in last week here is the chart showing this three-wave A-B-C:

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John is is a British-born lapsed PhD physicist, who previously worked for Nasa on the Mars exploration team. He is a former commodity trading advisor with the US Commodities Futures Trading Commission, and worked in a boutique futures house in California in the 1980s.

 

He was a partner in one of the first futures newsletter advisory services, based in Washington DC, specialising in pork bellies and currencies. John is primarily a chart-reading trader, having cut his trading teeth in the days before PCs.

 

As well as his work in the financial world, he has launched, run and sold several 'real' businesses producing 'real' products.