Global Dow: GDOW Limit Down Across the World
The pattern here is similar to GOOG (without the double tops)
and shows how all major market indices have fallen under the
spell of the high-tech mantra. What's good for Google is good
for the world, well, world markets anyway.
Critical support for this index lies at 2967. The low so far is
2276 today. Come what may later today, this index has to
hold closing values at 2967.
It's probing the lower parallel and whilst it holds up the Global
Dow (and therefore all major markets too) has a good chance
of rallying from here, the perfect spot.
But the 2967 level is effectively limit down for the Global
Dow. A close below here will tip this index back into bear
territory again, forcing back down to 2920 to begin with and
then after a small counter-rally back down to 2887 at least
and then most likely back to 2802.
The pattern here is similar to GOOG (without the double tops)
and shows how all major market indices have fallen under the
spell of the high-tech mantra. What's good for Google is good
for the world, well, world markets anyway.
Critical support for this index lies at 2967. The low so far is
2276 today. Come what may later today, this index has to
hold closing values at 2967.
It's probing the lower parallel and whilst it holds up the Global
Dow (and therefore all major markets too) has a good chance
of rallying from here, the perfect spot.
But the 2967 level is effectively limit down for the Global
Dow. A close below here will tip this index back into bear
territory again, forcing back down to 2920 to begin with and
then after a small counter-rally back down to 2887 at least
and then most likely back to 2802.
So goes AlphaBet, so goes the world.
Alphabet GOOG