DOW

could you check as Your chart link is not working for me, thanks

dow - daily. *sorry... this link should work*
uk.advfn.com/p.php?pid=chartscreenshotsh...8gYYEdzD7PxWp83QUZQ=

surprise rally??
suddenly the virus is not so bad....
i think a few stops got smashed overnight! that's why i think always bank on dow after a big move...

that 200 day ema line feature on the weekly chart is always going to tough to break....but i do think at the very least this will have another crack at it...

looking to short at 25224...gap fill...during market hours...with tight stops...
lets see...be lucky all...

atb, wdik, dyor,
trendfriend

something really interesting took place on the dow today....and it seems no one has picked it up so far..

dow - weekly.
uk.advfn.com/p.php?pid=chartscreenshotsh...uqbSc43yLq9kdY6dZZg=

see the 200 day ema line on the weekly chart? when was the last time we broke below it?
well it happened today!!

closer look here.
dow -weekly.
uk.advfn.com/p.php?pid=chartscreenshotsh...KbEdHH05GVNZB6KSo%3D

It could be a bear trap right....a small dip below....catch all the bears out and up we go...
so a break below the next key support is (for me) the key...so 21712 needs to get taken out to confirm the bear market.....not just another correction imvho....

if that number goes....i posted at the start of this fall that the broadening triangle has a target of 18,000/18,500.....and i think that could well be the bottom of this fall imvho....but wdik....

one more quick point 21712....worth a long with tight stops....possible relief rally there....before down again imho...(very tight stops)...

be lucky folks and stay safe
atb, wdik, dyor,
trendfriend

Medium term trendline broke today. and its a biggie as this goes back to 2016 . Next is the main trendline from 2009 bear market low and that's hovering around 21000 for the dow.



Bear markets normally head towards 50- 61.8 fib levels. and key levels of fibs are at

24131 (23.6%) Hit already....
20737 (38.2%)
18035(50%)
15300 (61.8%)

hey jackozy, nice to see you around after a long time.. I guess markets like this brings everyone back . Nice seeing you mate. Hope all is well.
remo

Hello everyone - how are you all?

Interesting times indeed! Probably like many of you I've been waiting for a significant correction for some time but I confess I thought it would come from a major middle east conflict (Iran/US) or a default on US debt (would just be fake news anyway, right? ) but who could have known it would be a tiny wee virus that would do it??

If the count in the attached Dow chart is right (not a given) then a close below c. 24400 today means we drop below the uptrend support from the P2 and P4 lows - that's classic wave 2 territory. Main uptrend line is c. 21000 at the moment.

Look at the support at the 50% and 61.8% retracements - again, typical wave 2 targets.

Remember - protect you positions and don't catch falling knives (or coronavirus!).