DrDovetail
Short

DOW approaching inevitable deathcross + h&s triggered

DJ:DJI   Dow Jones Industrial Average Index
This is my first ever non crypto idea on tradingview but I couldn't refrain from commenting on what I'm currently seeing on the Dow Jones. We can see a big head and shoulder pattern seems to have been triggered which has a drop target all the way down to the 21k range. Meanwhile it seems within the next 2-3 days a death cross is set to occur on the 1 day chart and considering this head and shoulder pattern seems to have already been triggered/validated I don't see any way shape or form that the DJI will be avoiding this deathcross...some wise friends of mine who have been at this much longer than I have are getting involved into some inverse ETFs right now in anticipation of it. I personally will not be making any financial advice on what to do here as I am not a financial advisor but it does appear that the writing is plainly on the wall...I also find it very interesting that the crypto market is now experiencing a bit of a pump during the DJIs + S&Ps downfall. I think we are in for a very interesting 2019 in both markets.
Comment: as we can see the price action is quickly approaching the price target I charted for it over a week ago. At this rate it will reach it by Friday...from thwre you amy see a relief bounce but of course a fall like this after such a parabolic steady incline could last quite a long time...in the same way Bitcoin crashed at around the same time last year, the stock market may have as rocky of a 2019 for it as crypto did in 2018...however with a market that has been around as long as stocks, and has been as bullish for as long it has...it may see a several year bear market at this point its somewhat hard to say but a multiyear bear market for stocks is certainly overdue and thanks to QE's 1 thru however many we had unavoidable. To direct our focus back on the positives though I'm glad to see my charting skillsI've honed throgugh crypto playing out accurately in more traditional markets as well.
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