Bounced off weekly 50sma friday..
Bullish Target is still daily 50ma.
Stop loss is a close below weekly 50sma..
If we do close below weekly 50 sma, I expect us to retest October lows
If we do push back up to 34,300 it wouldn't surprise me and would just confirm my distribution theory..
The dow can trade sideways for a while, just look at the price action from March 2021 - March 2022.
Green arrows- pointing out price action support.
Bullish Target is still daily 50ma.
Stop loss is a close below weekly 50sma..
If we do close below weekly 50 sma, I expect us to retest October lows
If we do push back up to 34,300 it wouldn't surprise me and would just confirm my distribution theory..
The dow can trade sideways for a while, just look at the price action from March 2021 - March 2022.
Green arrows- pointing out price action support.
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