DOW (DJI) rejected at 27K again, market topping out
The winter is coming. As everyone can see the index is failing at making higher highs, the dips are shallow, but the conviction is not there, there is just no room to rally. We reached the TOP. RSI showing weakness in the bull market.
Expecting a correction to around 25300, then a low volume rally to retest some of the former highs, and then, the long awaited freefall in early 2020.
This is the last time we are seeing Dow above 200-day MA for a long time, once it breaks down it won't get above it swiftly. The bear season begins with the daily close below 200 day MA or a flash crash we can't foresee atm.
Whoever longs this after such an overextended bullmarket cycle is just delusional.
A marginal higher high to stop out everyone already shorting and then a crash is a possibility as well, although I wouldn't bet on it.
It seems like everyone hopes they can sell to somebody else once the panic kicks in.
The thing is, the theatre is getting more and more crowded... yet the exit door stay the same.
Expecting a correction to around 25300, then a low volume rally to retest some of the former highs, and then, the long awaited freefall in early 2020.
This is the last time we are seeing Dow above 200-day MA for a long time, once it breaks down it won't get above it swiftly. The bear season begins with the daily close below 200 day MA or a flash crash we can't foresee atm.
Whoever longs this after such an overextended bullmarket cycle is just delusional.
A marginal higher high to stop out everyone already shorting and then a crash is a possibility as well, although I wouldn't bet on it.
It seems like everyone hopes they can sell to somebody else once the panic kicks in.
The thing is, the theatre is getting more and more crowded... yet the exit door stay the same.