DJI Double bottom ahead for breakdown of ascending triangle

TVC:DJI   Dow Jones Industrial Average Index
We need some technical support on the 2020 bottom and it just so happens that it lines up with the long term ascending support line in the next year. I think at this moment entering short is silly as we could see more upside but I do believe that reaching the top of the ascending triangle later this year will be a good time to enter short position. That support line now also lines up with .618 retracement. This would leave us with a short ~22 month bear market. More practical IMO than a 7 year bear market as some analysts are predicting. Fed likes "V Shaped recoveries" and they will build technical support on those types of recoveries I think. Lots of money to be made in the volatility.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.