This is a daily chart of the #US30 taken this morning. It's important to note that today ties the longest run of the year without the daily bar testing the 20 day moving average.
Back in August, it ran away for 24 days, ultimately to come down aggressively on that day to touch/retest the average. Today, we're extended yet again by 24 days and traders are aware that a mean reversion is imminent.
Be mindful of this in your trading right now. No one can predict when the move down will happen, but it will. It's 1000 points away so expect some big moves.
I anticipate a trend from the open any day now, if not today.
Back in August, it ran away for 24 days, ultimately to come down aggressively on that day to touch/retest the average. Today, we're extended yet again by 24 days and traders are aware that a mean reversion is imminent.
Be mindful of this in your trading right now. No one can predict when the move down will happen, but it will. It's 1000 points away so expect some big moves.
I anticipate a trend from the open any day now, if not today.