DOW and general market should break down beyond the most recent swing lows. Reasons:
Short based on these factors
- parabolic rise
- anemic volume on weekly and daily charts
- extreme overbought conditions on Composite Index on weekly charts
- close proximity to .618 Fib zone on monthly and weekly swing high/low
- pivot in time in Gann's cycles
- new moon phase
Short based on these factors
- parabolic rise
- anemic volume on weekly and daily charts
- extreme overbought conditions on Composite Index on weekly charts
- close proximity to .618 Fib zone on monthly and weekly swing high/low
- pivot in time in Gann's cycles
- new moon phase
Note
Next leg down within the next 30 trading days.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.