Dow revisiting 30k?

By elliott77

Updated

Given the CPI report this morning and Powell's speech from the Jackson Hole, I think this is very plausible. Let's see

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Wondering if DJI will make it down to 30K? Here is a thought

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Looking more like this unless of course it breaks down to 30k

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If futures are a guide its going on down...

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Maybe it only makes it down to 30.3k? If this support breaks...could get ugly

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If 30.3k can't hold I think we drop quite a bit, but let's see if it can hold

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Downward channel until 3:50 EST ...then what? Will it end flat or on the rise? With the meeting next week and the possibility to raise the rates by a full point...hmm I'll wait and see and leave this trading for the big boys

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Hmm it doesn't appear as if its going to make it down to 30k ...maybe 30.5k but its just an idea

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At the moment I am contemplating the FOMC rate hike on Sept. 21 2pm EST. We know .75 is baked in. 100 point hike is possible and my ideas are based on this, however I am starting to lean towards a .75 rate hike which could save the markets and I think Powell knows it. A100 point raise could cause too much damage to the already fragile markets. Obviously it's best not to guess, but be prepared for the markets to take off upward IMO. We shall see. Just an opinion

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More down before up? The original idea stands but 30.3-4k seems more likely IMO unless a complete breakdown which is possible...good luck!

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similar outlook as yesterday ...we shall see

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well my thoughts after hearing Powell is "sell the news" ..wait and then assess when to invest again. I think the market will experience high volatility and more down before beginning its rise again but we shall see

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nah ..I was too low ..here is an update..good luck

Trade closed: target reached

While I think it could go a bit more down as I show above, the target has been reached according to the idea ..good luck!

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Look like 28k is in the cards IMO...good luck!

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Nope ...that looks like the bottom for now IMO

elliott77

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