Dow Jones is Just 500-600 Points Shy of Correction
As long as Dow is trading above 34000 mark, we need not worry but we should be very very cautious about it as its just 500-600 odd points shy of this mark. If Dow breaks 34000 and closes below this level for continuously 2 Days or more, then, it may move into a Bear Grip and Bear run may start anytime soon.
As seen in the charts, momentum is slowing down and showing a divergence on weekly charts while my BullPower Bear Power Indicator showing that Bulls are losing control over it and Bears are taking control.
So, whenever you see Dow closing below 34K mark for continuously 2 Days then, dont ask anyone for suggestion or confirmation, just sell everything and sit on cash till Bear run is over.
Please note: This is my view only based purely on Technical analysis and my technical indicators and charts and no economic views or fundamentals were taken into account. I may be wrong. I have the right to be wrong.
Disclaimer :
Trading is never ever recommended as it is injurious to mankind. This is purely my study based on technical charts and for educational purpose only. Please do your analysis before taking any trades given by me. I MUST not be held responsible for any profit or loss out of any trades you take on our advice. All Disclaimers Apply.
As seen in the charts, momentum is slowing down and showing a divergence on weekly charts while my BullPower Bear Power Indicator showing that Bulls are losing control over it and Bears are taking control.
So, whenever you see Dow closing below 34K mark for continuously 2 Days then, dont ask anyone for suggestion or confirmation, just sell everything and sit on cash till Bear run is over.
Please note: This is my view only based purely on Technical analysis and my technical indicators and charts and no economic views or fundamentals were taken into account. I may be wrong. I have the right to be wrong.
Disclaimer :
Trading is never ever recommended as it is injurious to mankind. This is purely my study based on technical charts and for educational purpose only. Please do your analysis before taking any trades given by me. I MUST not be held responsible for any profit or loss out of any trades you take on our advice. All Disclaimers Apply.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.