Dow Jones Retreating To Bottom Of Range Looking For Support 38K

I see the start of a down move over the course of the next 6-8 weeks to drift down to the bottom of the range in order to achieve a couple of objectives.

1. Fill the Gap from January 19th

2. Hit all the stops from Longs along the way

3. Hit the 1X range expansion of the High/Low from Feb 23rd- Mar 5th


I am bullish over the next decade but right now it looks like a 4% decline is necessary for the consolidation before we start heading higher into the 40,000s

It will give the monthly 21ema a chance to catch up and the bottom low will be a bounce off the monthly 21ema

My ultimate price target is 115,000 in 2035

Commentaire:

Looking at it more closely, I can see it pulling back to the 50% area from the NOV bottom into the monthly 21ema before the bounce higher up into 42,000

That would take it to about Juneish..