The dow

ChartMan

Legendary member
5,580 46
15 min Dow Chart attached.
Here is how I see the dow. I notice that the fib retracement from the recent highs have now fallen to below the 23% level.Notice the attempt at support around the initial 68% level, and then an appology of an attempt to find support again at the 38% level ( small bounce.
I don't know what it is about the DOW, but it rarely finds any action around the 50% level.I would expect to see a rise to around the 23% level-10,257....tomorrow will tell.
Notice also the 3 rates of change in the slope- leading me to think that this accelerated decline has to stop soon- just the same as an exponential rise has to fail very quickly.Also accompanied by positive divergence on the three indicators- mine and Rizz's favourite, I think!
It's nice to be back :)
 

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Riz

Experienced member
1,266 5
And it is nice to have you back, ChartMan...hope we'll be seeing more of such useful posts, now that the kitchen is intact :)

Riz
 
 
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