There is PLENTY off resitence around 35000 level. Monthly close above it will be good for the SHORT term.
Closing below 33000 at month end i would call bearish allready.
With the prospects off war on the horizon, a further correction seems only logical.
Only to flow BACK into the DOW. where else would the money go? DOW & in dollars! is still king for international capital.
Compare the DOW to other indices, you will see the dow outperforming. and I believe it will continue to do so in the long run.
I do believe Selling some & get some extra cash in hand is smart.
But let's not forget: Markets can stay irrational longer than you can stay solvent So i would not rule out a further up move to fool everyone, and restart its downtrend after.
Watch the 35K level for weekly & monthly closings.
Closing below 33000 at month end i would call bearish allready.
With the prospects off war on the horizon, a further correction seems only logical.
Only to flow BACK into the DOW. where else would the money go? DOW & in dollars! is still king for international capital.
Compare the DOW to other indices, you will see the dow outperforming. and I believe it will continue to do so in the long run.
I do believe Selling some & get some extra cash in hand is smart.
But let's not forget: Markets can stay irrational longer than you can stay solvent So i would not rule out a further up move to fool everyone, and restart its downtrend after.
Watch the 35K level for weekly & monthly closings.
Comment:
Resistence was too much at the 35k level!
Comment:
If it can hold this i believe we will go higher
Comment:
Immediatly rejected. If we go below the previous low of 32.000, this will be seriously bearih. and it looks like it will do that.
Trade active:
Like said before, resistence around the 35k level and only a monthly closing will be good for it in the short term.
Medium Term it looks still bearish, but, the long term projection still holds charging above the 50k level. Keep that in mind for future purchases.
Medium Term it looks still bearish, but, the long term projection still holds charging above the 50k level. Keep that in mind for future purchases.