Dow Jones make or break

24 ส.ค. 2023

The Dow Jones Industrial Average (DJIA) is currently positioned at a significant support line stemming from a bearish pattern known as a rising wedge. Yesterday, it rebounded from this support line, but it is crucial to observe a stronger upward movement to maintain its position above this level. If the DJIA breaks below this lower trend line, it will invalidate the pattern and potentially trigger a substantial market drop.

The price is currently oscillating between the support line of the trend and the 200-day moving average (MA), which lies just below it, along with the 50-day MA that is positioned above. This configuration suggests that a more pronounced price movement is imminent.

Upon analyzing the Russell 2000 index (Russel) and the Financial Select Sector SPDR Fund (XLF) — both of which are indicated as showing signs of a potential downward movement in myr other analyses — it appears that there is a higher likelihood for the DJIA to experience a significant decline in the near future.

22 ก.ย. 2023

บันทึก

Break! Game over. Prepare for several weeks of drop