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tyler_sim
Jun 28, 2018 5:48 PM

Dow Looking Down Short

Dow Jones Industrial Average IndexDJ

Description

As we come to the EOM, a pretty well defined Monthly bear flag can be seen in the Dow Jones Industrial Average. Alongside this bearish setup, the current trade war is posing a big threat to global economies. Rising interest rates, tax cuts in a growing US economy, trade war threatening growth across the globe, this is not a time to be complacent in my opinion.

Furthermore, take a look at China's primary index (Hang Seng -- HSI) on the Monthly chart. A very similar pattern occurred there before the heavy selloff that we are seeing now in China. Could definitely see some turbulence ahead. But as always, no guarantees.
Comments
DaddySawbucks
Looking for a test of long trendline ~mid-23k. Maybe get a reaction 'summer rally' after that before lower again. Nice idea about Hang Seng- thnx!
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