danborovik

Dow makes HH, but 55 ema is the secret to retesting the lows!

Short
TVC:DJI   Dow Jones Industrial Average Index
We broke downward out of the rising wedge so beautify. It looked like the top of the B wave was in until price decided to make a HH, which may be a potential bull trap. If we can range between 22k - 24k, my EW count will still be in check. A break below 22k will confirm my count and I expect to see many bears entering here. Another wave up would launch us to the 200ma/ ema . Will monitor closely to see if we break either direction!