📈 Dow Jones New ATH, Correction To ~30,9000

16 apr

The Dow Jones (DJI) hit a new All-Time High three weeks ago but is already pointing straight down, already in the early stages of a massive correction... How are you doing today?

The week is young and the Dow Jones already wicked higher and is going down.
It has been down with two big red candles closing below EMA10 and EMA21 weekly, the bears are now in control. 👉 Next target is set at EMA50 or around 35-36,500.

The weekly RSI peaked in January 2018, so we have a more than 6 years old bearish divergence:

We have two additional targets on the way down:

1) 33,333 (around MA200).
2) 30,900 (around EMA300).

It can go lower but we have to wait and see how the correction develops.
Something can happen where the market turns and recover sooner than expect or we can go all the way down; we go step by step.

Here we can easily spot the start of the correction, the entry; the market takes care of the rest!

Namaste.