As we have been rejected at 26000, media remains optimistic as we approach another major selloff with ongoing trade talks with china and the ever changing FED rate news it is clear we have topped out with this dead cat bounce and will retrace down following the resistance.
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$DJI hitting massive technical levels . BOth Medium term and short term resi lines have been hit now. The ascent on the back of tax rate cut started in Nov 16 and now mkts are up 4000 points from pre trump ATH. At the least a corection to key 200 MA should unfold before Santa rally season in late nov-Dec comes in play
A lot of moving components and policies that were implemented in the past is leading to markets crash near term IMO. There are reasons for everything. Gold is relatively cheap right now compare to what will happen next IMO.
Today's price is as if tomorrow's NFP is priced in. We should see a substantial sell off tomorrow. Either it breakup above today's close or close where I point the arrow. Thanks for the view. Feel free to comment.