If you want to know if a market is about to turn, you may want to visit your local newsstand. (Is that even a thing anymore?)
This excerpt from the November 2022 Global Market Perspective shows how big exposure in mainstream media and an ending wave pattern can help you time the turn:
The U.S. Dollar Index continues to look like it’s topping. The index is testing the level where wave (5) would equal wave (1), a common relationship… Bloomberg Businessweek published a cover highlighting the strong dollar, and Barron’s followed with a similar cover less than two weeks later. The late analyst and EWI friend Paul Macrae Montgomery demonstrated over decades that specialist industry magazines sometimes highlight financial trends on their covers just as those trends are ending. His magazine cover indicator now supports our wave count for the U.S. Dollar Index.
The dollar traded under 102 two months later.
Global Market Perspective covers 50+ of the world’s biggest markets — global stocks, bonds, forex, cryptos, gold, oil, investor psychology and more. Click here.