DOW

chief66 wrote: Heading very close to 22770

If it closes below 23300 would it correct to assume a bearish signal down possibly to 21000?,

Looks like a H&S to coincide, with TF’s support line.

Heading very close to 22770

If it closes below 23300 would it correct to assume a bearish signal down possibly to 21000?,

Nice chart trendfriend.

Libero wrote:

longterm_view wrote: Is this the start of the wave 5.

up or down?

Sorry, wave 5 down.

I believe we are in wave 4, I think we have topped out and this is the start of wave 5 down, the last in the move.

Then I will get off my hands, (they are going numb) and start buying.

dow - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...Ycgdtwz1oj4hCjbtw%3D

a lot of stocks seemed to have a unusual type of triangle/wedge sort of formation....almost like a strange type of bear flag...

some of them have broken below those triangles in the last few days...does seem to be a change in sentiment this week imho...

Looking at the dow here on the daily....this also looks to be in this triangle or wedge type of formation...
its also very close to the bottom of the support line...
i make it 23300 (ish) for break below....and it could well provide the momentum trigger for a new phase down....especially if we see the 20 day ema line currently at 22770 taken our as well...

lets see...take it easy folks....and stay safe...

atb, wdik, dyor,
trendfriend

longterm_view wrote: Is this the start of the wave 5.

up or down?