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LandonEconomics
Mar 21, 2020 3:12 PM

I'm Starting to See a Patern Here (DOW JONES DROP INCOMING) Short

Dow Jones Industrial Average IndexTVC

Description

The Dow has tested the blue resistance line (around 19,000-19,200) about 7 times throughout the last week. The Stoch RSI is also showing it is not oversold yet. In addition, you can see the pattern of a big drop, a small gain, a big drop, a small gain, and so on. We just had the small gain and I think another big drop is coming on Monday. However, if it decides that after 7 times of hitting a resistance to rebound off of it, this could be the bottom of the recession (I think this is highly unlikely and has a 5% chance of actually happening).
Comments
ChargingBull
what if it bounces and comes back down later?
LandonEconomics
@ChargingBull, That's always an option and if it does I think it would go up to the 20,850 range before dropping back down.
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