Member
Posted 21 June 2023 - 05:47 PM
This sell off has taken the DJIA back to the top trend line of the triangle it recently broke out of. My simplistic way of looking at these tests is bullish if the line holds and the DJIA passes the test resuming its march north, and bearish if it breaks the line, particularly if it tests that line from below and then heads down again. Powell talks again tomorrow and jobless numbers come out, so maybe one of those will help the market make up its mind.
Regards,
Douglas
I want return OF my money more than return ON my money
Posted 23 June 2023 - 12:07 PM
test looks wobbly at 33787 dji?
but far from ominous.
Edited by pdx5, 23 June 2023 - 12:08 PM.
Member
Posted 23 June 2023 - 04:49 PM
pdx5, the DJIA did break the green line which is not good, but it is not exactly failing the test, however, it does only deserve a lousy C-. If the DJIA turns back up towards the green trend line and is rejected, the grade drops to a D, and if it then breaks below the red line, I suppose I'd have to drop the F bomb.
Regards,
Douglas
