DOW JONES: Short term decline started.

Mar 22

Dow Jones is still on a bullish 1D technical outlook (RSI = 61.232, MACD = 275.500, ADX = 55.346) but today's red 1D candle, being the strongest since February 13th, is a first hint that a short term correction is starting. The price has almost made a HH at the top of the 18 month Channel Up, so the probabilities of a technical pullback are getting stronger. Both prior HH touched the 1D MA200 and the middle of the Channel Up. As a result a -6.90% decline (like December 20th 2022) seems a modest target (TP = 37,300) as it will hit the middle of the Channel Up, even approach the S1 level.

See how our prior idea has worked out:

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