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Dow Jones Industrial Average (DJI)

NYSE
Currency in USD
Disclaimer
37,753.31
-45.66(-0.12%)
Closed

Dow Jones Industrial Average Discussions

The 28,700 level was smashed so congratulations to sellers who held their sells through the weekend. As mentioned last Friday the probability of a much lower Monday opening was strong. The coronavirus outbreak in E.U. is the perfect excuse for that sell-off and most likely creating the ideal conditions for a cheaper stock buying. We have marginally gone past the January 31st low (28,350), so this should be ringing some bells. But like I've been saying since the beginning of the year, the 1D RSI is on a bearish divergence (RSI = 33.000, MACD = -48.100, ADX = 27.557, Highs/Lows = -904.9286) and this Channel Down has just reached a Lower Low, which is technically the ideal buy entry for me. I am long again TP = 28,800 and 29,550 in extension). Be ready to hold as low as 28,090.
Thanks George
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