Short
Dow Jones might have topped around 25845
Dow Jones structure remains unchanged as presented earlier. The indice is preparing to drop in a swift manner as Wave (3) unfolds towards 18000 and beyond. Both in terms of Wave Counts and proposed Head and Shoulder reversal, we are extremely close to witness the largest drop in recent decades. The drop from 29600 through 18200 was in 5 waves hence impulse, Wave (1) on chart. The subsequent rally is in 3 waves hence corrective, Wave (2) on the chart. The indices is preparing to drop in Wave (3) lower and the Right Shoulder might be in place at 25845. We still favor an aggressive bearish reversal ahead across major indices including Dow Jones and SPX500.
Strategy:
Short against 29600, targeting below 18000.
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
Strategy:
Short against 29600, targeting below 18000.
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
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.
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.