US30 (Dow) - Confirmed Downtrend - Lower High Formed

24 abr 2020

US30 (Dow) - The Charts are talking! We saw the lower low. Now, we see the lower high. Upward momentum has slowed. We have a 50-61.8 fib levels rejection off of resistance. Can you smell what the charts are cooking? Smells like a downtrend. Will we see a quick drop to 23000 and then to 22000? Now we have the technical analysis side of the equation. It's time to judge the fundamental side. Should we even trade going into a Friday? Will another stimulus round override the quarterly earnings and unemployment numbers? Will the oil wars create more fear? No matter what, does it make since to go back to all time highs in an economy like this? If so, will it be the biggest scandal of all time to figure out who benefited from it and why it had to be done? You be the judge.

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