this is a quick update on DJI. I just noticed a bullish divergence on the daily RSI (Relative strength of the market) which could lead a bounce back towards all-time high, which we just hit a few weeks ago.
Since Corona caused problems to the markets (more likely a bloodbath), people are panicking and overselling their holdings. The most absurd stuff was the shrinking of Anheuser-Busch stock, which is the owner of Corona-Beer, a beer and beverage company, which notes massives losses due to the situation decreasing sales...
Anyway, in my opinion markets are oversold right now and there is a chance we might see a bounce back up to <<<28600!>>>
RSI looking good and news are still bearish- for me time to fill my bags! If you are interested in what I buy, make sure to ask in the comment section for a specific stock or index, I will tell you my opinion/create a chart for that!
If it works out and we come close to the previous all-time high, we will possibly retest this low as of today and at that point we will compare to RSI again and decide what to do! <<<<23100>>>>
Note: If we make lower lows and the strength of the DJI lowers as well, trades are canceled!
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well, the prediction happened a week after the prediction, so the expectation of a retracement near the local top is still in play! Turns out, the markets took another week to find a temporary bottom- let us see if we reach the target! :-)