Dow jones update, Rock and a hard place
RSI divergence in full effect; You can see the rejection on my RSI chart.
What does that mean? well it coincides with what we're seeing on the chart with the dow getting rejected off of channel top.
Closed on support trendline after getting rejected today. Could possibly squeeze another flat day out but the drop is coming either 8/10 or 8/11. CPI news on 8/11 could be a catalyst
Covid news isnt getting any better but i think the covid stories are just the icing on the cake here. TA was showing this drop in the making way before china started locking down and energy tanked.
My target for this pull back is 34,200.
What does that mean? well it coincides with what we're seeing on the chart with the dow getting rejected off of channel top.
Closed on support trendline after getting rejected today. Could possibly squeeze another flat day out but the drop is coming either 8/10 or 8/11. CPI news on 8/11 could be a catalyst
Covid news isnt getting any better but i think the covid stories are just the icing on the cake here. TA was showing this drop in the making way before china started locking down and energy tanked.
My target for this pull back is 34,200.
