Wednesday, February 7, 2018

Dow Jones on the System.... volatility expected for now...!

Over the past few days, we have seen a sell down below the key 26000 level for the Dow Jones and as a result, a new wave of selling took place….

We saw Dow Jones selling down by more than 1500 points over the past 3 days before a reversal last night, thankfully….

Was taking a look at the system and saw that we actually had a 1GT Bullish EXIT on the entire Dow Jones index last week, 30 Jan 2018….

Just 3 days before the major sell down begun which led to global markets selling down more than 2% from Asia to Europe all over…

Some downside targets were also drawn too on the breakdown of 26000 which was not a good thing in the short term technically and has played out indeed.

Hopefully, we see some support coming in for the Dow Jones at 24000 now which has been holding for 2 months… and also over the past 2 days…

This 24K level also coincides with the 100 day MA which can lend some strength….

Watching system for any reversal signal…

See below for charts

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