Dow jones

Something very bearish just happened to today.

The dow closed below it's

weekly 50sma
Daily 200sma
Monthly 21ema

And most importantly .236 fib..
.236 are reversal areas , if the dow doesn't reclaim 32,500 tomorrow we are most likely headed back to 30,000 Via double top

Watch for a retest of this level. If you notice today the dow tried but couldn't break over 33,000 at the same time Spy got rejected at 401.50 and qqq 301..

Commentaire:

As long as this stays under 32,500 consider every poo a dead cat... Over sold on the 1-2 hour time frames so expect some chop ....

Commentaire:

Falling wedge here.. still bearish under 32,500 but things are oversold and we could see a pop

Commentaire:

I warned you about .236 fib..
Rejected there, next leg down has begun, target 30k or white trendline support..
Watch IWM for a breakdown in 170 for conformation here.

Commentaire:

Looking for a pullback to 31,800 should we reject again on 32,500