Dow Jones Reversal Pattern?
We have yet to see TWO consecutive green days on the Dow for quite some time...will be finally get that? We have the monetary side with the Fed now buying up assets with unlimited funds. The fiscal side is next with a relief package to be passed in congress.
We had a record over 2000 point gain day today.
From here, we are approaching a very crucial zone. We are looking at the 21000 zone here as it is the last lower high swing. According to market theory, as long as we are under this lower high swing, we are in a down trend. Ideally, would like to see 21000 tested, a pullback, and then a break out. This would give us our first higher low swing to work with AND create the quintessential reversal patter, the head and shoulders.
We had a record over 2000 point gain day today.
From here, we are approaching a very crucial zone. We are looking at the 21000 zone here as it is the last lower high swing. According to market theory, as long as we are under this lower high swing, we are in a down trend. Ideally, would like to see 21000 tested, a pullback, and then a break out. This would give us our first higher low swing to work with AND create the quintessential reversal patter, the head and shoulders.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.