Market ‘roadmap’ says Dow could slump to 12,000

With all the bearish action lately, markets are moving down in synch. And the outlook for the Dow is for further big falls, says John C Burford. Here, he identifies two possible trading targets.

Last Wednesday's MoneyWeek Trader on the Dowcould not have been more timely.

Starting from the 19 June 12,900 high, the market has moved down by 300 pips in only four trading days.

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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.