DeLaRose

potential of Dow Jones movement from now to the upcoming months

DJ:DJI   Dow Jones Industrial Average
We have two main up trend for Dow Jones DJI
Trend No. 1 it's the very old trend.
Trend No. 2 start from 2009 .

In Dec. 2016 Dow Jones break out the major trend ( 1 ) to the trend No. ( 2 ) in June 2017 Dow Jones break out of any trend which is not a good sign for the future of the index and during the history of Dow Jones since 1988 it use to make strong corection every 9 - 10 years .

And by studing the history of Dow Jones we can find that first sign for the hard corection it appear from the RSI indecator when the convergence/divergence mark appears as shown on the chart for two times ( Dec 1999 - Nov. 2007 ) and now what will happen in 2018 ???

Why i'm expecting a hard correction ?

1st the Index cycle as i have find it on the chart it's 9-10 years.
2nd RSI is too high
3rd on Fib we can see on the chart it's on the 161.80% and from this level of Fib usaly should be a retest for the 100% on Fib

So in my opinion in case if the convergence/divergence will be complet this will confirm the beginning of the correction.

First target will be as shown on the chart then can reach 2nd target too.
If stocks falls with global economies, then we might be able to see the 2009 low soon. Watch out for financial time-bombs.
Antworten
Would it be possible to consolidate inside any of the two trend channels?
Antworten
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