DJIA in 2nd Wave Correction of C Wave Downward (Weekly)
On Weekly Basis:
DJIA has corrected almost 50% of its down move from 34152 to 28725. It is bear market correction, usually sharp bounces. It also has resistance of 50 DMA at 31125 which also a pivot point. DJIA fell from all time high of 36800 to 29888 which was A wave of Grand cycle and corrected 61.80% to B Grand Wave at 34152, also close to 200 DMA level of 33890. DJIA has entered into C Grand Wave which should be final capitulation phase with Sub waves of 1, 2, 3, 4, 5. In shorter frame, DJIA completed its Wave 1 from 34152 to 28725 and almost completed Wave 2 at current level of 31082. Soon it should resume sharp down movement with the target of 26441 completing its Wave 3.
Warning and Disclaimer:
Above prediction should not be taken as financial advise, it is a personal opinion.
Consult your financial advisor.
Investment is subject to market risks.
Past performance is not the guarantee for future performance.
It is for educational purpose only.
DJIA has corrected almost 50% of its down move from 34152 to 28725. It is bear market correction, usually sharp bounces. It also has resistance of 50 DMA at 31125 which also a pivot point. DJIA fell from all time high of 36800 to 29888 which was A wave of Grand cycle and corrected 61.80% to B Grand Wave at 34152, also close to 200 DMA level of 33890. DJIA has entered into C Grand Wave which should be final capitulation phase with Sub waves of 1, 2, 3, 4, 5. In shorter frame, DJIA completed its Wave 1 from 34152 to 28725 and almost completed Wave 2 at current level of 31082. Soon it should resume sharp down movement with the target of 26441 completing its Wave 3.
Warning and Disclaimer:
Above prediction should not be taken as financial advise, it is a personal opinion.
Consult your financial advisor.
Investment is subject to market risks.
Past performance is not the guarantee for future performance.
It is for educational purpose only.