Dow has yet to enter into correction territory. Dow has now reached the key fib level and a move to TP1 would take down into correction zones.
I do believe a big shock is needed to achieve this. Im hoping the ukraine/russia confilict could be it.
Other fundamentals to consider is the 4 rate hikes planned as well as the contracting USA GDP
This is my trade at open today.
Dollar has dipped against major currencies = cash flowing into equities
No major news ahead
Big Tech trading above price pre market
Nas rejected key level with strong move above key level
Rejection of the 61.8 will signal a long for me