We finally got our decline underway. We are still showing our highly idealized scenario but I think the next couple of weeks might get very frustrating for market technicians. When you have the Russell 2000 outperforming major indices in a stormy market, you know the market will throw curved ball at you. As action unfolds we should be able to get more info to fine tuned our outlook.
For the very short term, if we see more downside movement it should be limited with support in the 24100 area. Next move of consequence should be a choppy rally to correct this week decline. For the Dow there's a strong resistance zone around 25000.
Don't be surprised if some indices makes highs while others drag their feet.
Thanks for reading
For the very short term, if we see more downside movement it should be limited with support in the 24100 area. Next move of consequence should be a choppy rally to correct this week decline. For the Dow there's a strong resistance zone around 25000.
Don't be surprised if some indices makes highs while others drag their feet.
Thanks for reading