elephantsrevenge

Dow Long-term Trendlines show potential bearish targets.

INDEX:DJY0   DJIA
5 0 0
The Blue upsloping trendline currently at 5550 is a significant regression line for Dow. It is in play if the red line doesn't hold (13000). In a severe bear market a retest of 2650 or 2200 (lower pink line) can't be ruled out. Market's recent failure to breach the middle pink line could be reason for propulsive downward move, which could just be getting started. A bounce here could see an upside target of 21-22K.
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