DOW Update

ChartMan

Legendary member
5,580 46
Just a re-cap since 21/09.... there have been 4 retraces to date, and I make it one more push until we drop. An educated guess would suggest up to 9600 or so. Wether we'll make it this time to 10K is another matter....The current moves look strong, but the slope across the highs at 9180 / 9420 is becoming shallower, giving reason to the end of the push up. A 300-400 point rise from the retrace has occured from each of the bottoms, so the target is 9500/9600.These values will be pivotal next week, A failure to achieve at least 9500 early on will signify the start of a major retrace. Assuming the first fib. retrace of 38% from 9500, (8200 bottom) we will be at 9000,which just happens to be a major support point.
50% will be 8850 with support at 8870.
62% will be 8700 with support at 8748.
 

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