03/02
Is Dow rebound or reversal ? Rebound means a brief up trend but will return downtrend. Reversal means termination of downtrend and reverses to new high. In this case, it is more likely a rebound not a reversal. Reason is that series gap-down, high volume distribution, and crossing down 20/50/200 DMA are evidence of change of direction. Therefore, it is important to wait the end of rebound which will be the beginning of next sell-offs. It could happen either this week or next week.
Is Dow rebound or reversal ? Rebound means a brief up trend but will return downtrend. Reversal means termination of downtrend and reverses to new high. In this case, it is more likely a rebound not a reversal. Reason is that series gap-down, high volume distribution, and crossing down 20/50/200 DMA are evidence of change of direction. Therefore, it is important to wait the end of rebound which will be the beginning of next sell-offs. It could happen either this week or next week.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.