Dow Jones... Not looking very good.
Seems to be flirting with the top of the previous channel. If that breaks, I feel like we could see 24,300-24,500 and if that breaks then 23,500.
Everything here screams to buy some here but honestly, at the rate this is going, it might be better to hold off.
Coronavirus fears are real and I feel we will start to see some sign of recovery if these things happen:
1) Cases decrease (Seems to be working in China but they could be lying)
2) Countries get their act together and prevent spread (CDC already declares that this will become a pandemic... so I am not sure if it is already priced in. Governments have also shown to be extremely slow in acting or just being efficient)
3) The global supply chain gets in order. I don't think there is too much of a demand problem as it is a supply issue.
Best of luck.
Everything here screams to buy some here but honestly, at the rate this is going, it might be better to hold off.
Coronavirus fears are real and I feel we will start to see some sign of recovery if these things happen:
1) Cases decrease (Seems to be working in China but they could be lying)
2) Countries get their act together and prevent spread (CDC already declares that this will become a pandemic... so I am not sure if it is already priced in. Governments have also shown to be extremely slow in acting or just being efficient)
3) The global supply chain gets in order. I don't think there is too much of a demand problem as it is a supply issue.
Best of luck.
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