DOW

Looks like another fake out. S&P hasn’t managed to keep above 4000 yet again. Tested and failed !!

I am open to the idea that the market won’t crash in a straight line but we are in a bear market. This is defo not going to fly to 37000. So if there is a bounce what levels should we be watching to go back short ?

dow - daily
uk.advfn.com/p.php?pid=chartscreenshotsh...MM8cbbg1qKDDlgUkw%3D

don't get too bearish here just yet imvho...
watch the 30 level on that rsi...and watch the 29,500 level...

aside form from a couple of breaches of that 30 level the dow seems to bounce strongly from the 30 level on the rsi...

If 29,500 goes then it cold go quite a lot lower....just don't think it will imvho... and this should be nothing more than a 20% correction.....but lets see.

atb, wdik, dyor,
trendfriend

bear minimum, great pun.

Thanks Remo. I will watch and wait.

Would be nice to load up, ready for the next swing.

That’s the bear minimum for me….38.2fib…but bear in mind this is just an index figure…
I’m shocked at how low most shares have corrected already. Nearly all the shares I follow have corrected way more than this already and some have corrected over 90%, its absolutely crazy out there…..Even thou I have been banging on about staying out of the market for ages, I have ignored my own advice and have dipped into some shares, only to have made a huge loss on those investments..lol..
This is one of the worst correction I have seen yet the indexes are not showing it fully…obviously its based on what index you follow. Nasdaq has corrected loads compared to ftse100 or even the Dow..

Are we only aiming for the 38.2% fib? I make that around 29,800.
Doesn’t seem like that far away.

I was hoping to stock up, missed the march 2020 dip; as needed the funds for a house.