The DJIA hasn’t regained it’s strength. It has now two failed attempts to break 26000 and hold it. March closed only 12 points higher than February.
The DJI is still caught in S/R with ranges being vast.
Currently sitting in the 2018 S/R range of 26951 - 23360.
The weak attempts at breaking 26000 and holding it have lead to a third attempt. Historically, if the third attempt doesn’t break and hold. It will drop to the floor to attempt to regain strength and momentum.
We know that the markets as a whole always climb. However, one - three year period bear markets exist in exhausted markets. We are in that period. This would be year two of an exhausted market.
Possible low for April being around 25000 as long as current strength holds.
Again, same signal exists attempting to reach 27292.
Flat Trend - Neutral Market.
The DJI is still caught in S/R with ranges being vast.
Currently sitting in the 2018 S/R range of 26951 - 23360.
The weak attempts at breaking 26000 and holding it have lead to a third attempt. Historically, if the third attempt doesn’t break and hold. It will drop to the floor to attempt to regain strength and momentum.
We know that the markets as a whole always climb. However, one - three year period bear markets exist in exhausted markets. We are in that period. This would be year two of an exhausted market.
Possible low for April being around 25000 as long as current strength holds.
Again, same signal exists attempting to reach 27292.
Flat Trend - Neutral Market.
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