Dow Jones short term Update
Looking really extended on Bollinger bands now after 10 non stop days of bleeding. I Expect Monday to open up red but look for a bounce near Fib 0.236 which aligns with the 100ma(blue line) perfectly at 32979. That would be a -311 point drop at which point I wouldn't be surprised if we see a dead cat bounce before further selling. As you can see if we crash past the 100ma there is no support for literally 1300 points. AT THIS POINT I EXPECT FULL PANIC SELLING. I think the answer to how fast and hard we fall is if tech (Nasdaq) joins in on the correction. The extra weight of MSFT and Apple dropping would fuel the fire.
Don't be surprised if the bounce coincidentally accompanies a faux calming statement from Powell or yellen.😉. it's all smoke and mirrors. I like how the big institutions disguised their dumping under "quad witching".
Some Dow stocks that technically are in bad position andwill suffer the worst drop if Nasdaq also fall are
IBM (Rising wedge)
Cisco (Rising wedge)
Intel (Downtrend)
Good luck and I hope you kill it🤑
Don't be surprised if the bounce coincidentally accompanies a faux calming statement from Powell or yellen.😉. it's all smoke and mirrors. I like how the big institutions disguised their dumping under "quad witching".
Some Dow stocks that technically are in bad position andwill suffer the worst drop if Nasdaq also fall are
IBM (Rising wedge)
Cisco (Rising wedge)
Intel (Downtrend)
Good luck and I hope you kill it🤑
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