Which direction will the Dow go?

[Holygrail007]

The Dow is near its bottom. What do you think? I will post again when I get a buy signal. I think the short term is going to up. Long term we are definitely moving down. I believe the stock market is governed just by mathematics and predictable patterns. The universe is governed by Fibonacci and Fractals and so is the stock market.

 

[divyanshisharma]

I think it will be down for this week and trend upward directions for sure!

 

[mike.]

If you look at chart data from this year you can see the Dow has been range bound since January, bouncing from support around the 23,500 mark and struggling to to break much above 25,500 resistance point, My guess is it will continue to do the same until some major economic news pushes it through these areas and begins to form another trend. That’s not to say it can’t be traded successfully within support and resistance...