Dow Jones Getting closer to a sell signal soon. February EngulfmNow that January monthly candle has closed, I am awaiting an engulfment candle. I will place a limit order sell under the low of the green body of January at 37,775 with my target down at 21,600 with the intent of adding more on the way down. I am planning on a 37% sell off and have been a broken record on this for months because I firmly believe this is the set up. I still think there is just a small amount of upside left.
The monthly 21ema is flat = range = Sell the pops above it
Monthly Bearish Rising Wedge hitting the top of the up channel
The monthly 200sma is rising and is far away = Counter trend sell to pullback to the monthly rising 200sma.
The trend is bullish long term but the 37% sell off is a counter trend sell/ pullback in an overall bullish market.
Once it hits 21,500 area, I will be buying for the bull rally up to 44,500 for a 110% bull run
At around 2029 at the highs of 44,500, I am expecting a massive 45% sell off down to 20,000
This will be the low for the rest of my lifetime, after which I am expecting Dow Jones to start shooting for 200,000
