20k level of support. Next level is $16k
DJI seems to be holding the 20k mark pretty well. This was a level of resistance until what I call the "Trump Effect" entered. During this time stocks became severely overvalued due to optimism of our economic future after he got elected. Stocks went parabolic and entered a stage of euphoria.
I truly believe that this correction was imminent and needed to happen in order for the market to stay healthy.
I'd like to see DJI go below 20k and hold firm. However, a fall to 16k would bring it back to the lower end of reality.
I truly believe that this correction was imminent and needed to happen in order for the market to stay healthy.
I'd like to see DJI go below 20k and hold firm. However, a fall to 16k would bring it back to the lower end of reality.
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