DaddySawbucks
Long

US 30 possible near-term bottom forming- gap to fill up

DJCFD:DJI   Dow Jones Industrial Average Index
Chart self-explains. Could sure get lower but behavior suggests a bottom retest may be in at 24421. Wait on 4hr to confirm it.

Could get a strong lift into December off these lows to form a right shoulder before the bears really tear into it. Unpredictable now.

Just an idea not trading advice- trade at your own risk! GLTA!
Nov 20
Trade active: It has formed a bull flag in the 15m intraday. IDK... not going long yet!
Nov 20
Comment: Err-- 'bear flag' sorry - countertrend pennant. As Mr Unwind noted, too soon to commit to long position yet, but too risky to bet on a further decline IMHO. I expected lower, see if we get it!
Nov 20
Trade active: Sure looks like it will retest lower lows, extreme, relentless bearishness. Stay tuned!
Nov 21
Trade active: Futures point to a lift in pre-holiday session, there's that gap to fill above around 248-249; we have an EW five wave impulse pattern forming here in C leg, if a countertrend wave 4 forms today, it should provoke a bearish reaction; the fifth wave down could retest lower lows and spark capitulation panic. Still too soon to go long, trend remains bear- be carefull!
Mr.Sawbucks,

if that support line you have drawn fails in the Dow,
it will be Katy Bar the Door for the market.

Very early to try to pick a bottom,
although if you're hot like you are right now..why not ? :)))

THE_UNWIND
Reply
@The_Unwind, LOL I tried that game too many times- not bottom fishing, just saying - it appears to be trying to form one but as you say, break that line and the herd will rush out.
Reply
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