Are We In A Dead Cat Rally?

BATS:DIA   SPDR Dow Jones Industrial Average ETF
Based on the "Most investors sell on the bottom" chart I upgraded the analysis. The pattern repeatedly shows that after initial sell-off there is a rally. This so called "Dead cat" rally usually meets the strong resistance of 50 day MA followed by another drop.

Current pattern obviousely shows we are in rally mode, however there is high probability for further drop if 50 MA appears to be the turning corner again.



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