DJI, Daily Chart Analysis 6/26

DJCFD:DJI   Dow Jones Industrial Average Index
Implications and Outlook
1. Core DJ Industrials followed the weaker trend which finally resulted in a significant decline for the Index. We did see the Dow closed below 24500 which signified inner Mean Support of 24400, causing fallout towards Index Dip completion of the 24090.

2. The 'Dead Cat Bounce' is in the cards with a designated target of Mean Resistance 24568.

3. The violation of the Mean Support 23935 will undoubtedly bring serious of the mid to intermediate-term bearish implications, having downside target to Index Dip 23570, while Key Support of 23530 and Yerly Low 23344 looming below.

5. Current Index Strategy Bias: Bullish 60 / Bearish 40

Remarks: We will see MSM (mainstream media) attribute the losses to Chinese-US trade strains, and the information on that forefront is undoubtedly disturbing at the very least, however the exact cause why the marketplace is continuing to fall is that of the reality that the Federal Reserve is attempting to cross over from Quantitative Easing to Quantitative Tightening.

Let’s overview what has transpired. The markets, together with the crypto currencies, flamed out at the beginning of the January 2018-late part of December 2017. After that, we had a break out; next, there would have been a rally undertaking which saw the Nasdaq Index create fresh all-time highs while the DJI and S&P500 did not even end up getting close.

Currently, the marketplace has rolled yet again, and therefore I believe this specific down leg might get uglier than the earlier downfall (we will need to bear in mind that every one of the accelerates underlying the marketplace, for example, the fragile model which I have mentioned so frequently up to now). However, whether or not this particular phase might go far more than enough to get the Federal Reserve to 'Cry Uncle' might be a little tricky to declare.


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