What could happen after the Dow’s 1,000-point plunge

Following the Dow's dramatic downturn, there are now two possible forecasts for where the market is heading next. John C Burford eliminates one of them.

As I mentioned last week, the markets are throwing up some incredibly profitable opportunities, especially for swing trades. But after the heavy falls, where are the markets heading now in the short term?

Today, I want to cover the Dow, since it has made some very interesting chart patterns since I last wrote about it on 11 May.

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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.