Dow Jones (spot) is still holding below 27580 highs
Dow Jones has been trading into the sell zone of its counter trend line of support since printings highs at 27580 early June. The index has lagged behind its counterpart SPX500, which terminated potential Wave 2 as flat. Dow Jones might be heading lower towards 23000 and further from here and it should stay below 27580 to keep the bearish structure intact over the short term. The potential lower degree wave counts are as follows: The drop from 27580 through 24843 as potential Wave 1, and the subsequent rally towards 26300 as Wave 2. If the above counts are correct, we should witness a sharp reversal in Dow Jones towards 23000, 20000 and lower.
Remain short, stop @ 28000 target @ 23000, 20000 and beyond.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Remain short, stop @ 28000 target @ 23000, 20000 and beyond.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
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