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!

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, 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.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out