Adam Hewison released a video yesterday regarding Monday’s bearish move and where it occurred in context and what it might mean for the broader market – it’s definitely worth viewing to see his views and price projections.

Entitled “The Dow Crash,” though it isn’t as tragic as it sounds, Hewison takes us through line, bar, and candle charts on the Daily and Weekly views of the Dow Jones and applies simple trend analysis and Fibonacci retracement/projection analysis to let us know where he thinks the Dow is headed.

Here’s a hint:

“We know the Dow topped in October 2007, but the question on everyone’s mind is ‘Has the Dow bottomed in November, 2007?’  I believe it hasn’t and here’s a few reasons why…”

Here are a few chart examples from the video that also shows an example of the Market Club charting system:

Hewison begins by discussing the weekly trend on the Dow Jones and how the current action fits in the structure.

He then moves to discuss how the “Thanksgiving Rally” came into key resistance at the 61.8% Fibonacci retracement on falling volume – bulls clearly were unable to overcome that level.  Adam then moves to describe a projection through the end of the year and into the new year.

The video is just over 8 minutes long and is provided free thanks to Market Club’s educational outreach efforts.

Thank you to Adam and the group for making these videos available to the public after they are released to members.