Dow seems to be moving in an upward trend. Last week it closed at 29263.48 which was slightly lower than the week before (29479.81 ATH). The all time high made no sense to many, but then again, the market doesn't always do exactly what we think it will. So any ideas I have here are probabilities. If it clears above the trend line, and yes, it is a trendline since it touched at three points, we could expect a continuation.
If it bounces off the trendline, we could expect a correction. An 8% correction could be possible. Once again, these are guesses. If the market was 100% predictable, there would be no market.
Good luck in trading this week.
Stick to your trading rules; practice a disciplined approach; preserve capital and leave your ego at the door.
This is not investment advice.
If it bounces off the trendline, we could expect a correction. An 8% correction could be possible. Once again, these are guesses. If the market was 100% predictable, there would be no market.
Good luck in trading this week.
Stick to your trading rules; practice a disciplined approach; preserve capital and leave your ego at the door.
This is not investment advice.