DislikedRallies like this are impulse rallies in a bear market. This one is news driven.
Here is a longer term picture of dj-30 for everyones info.
As long as that second downward trend line is not broken the price should drop down to test 11551 by Marhc 15th ( just a projection of both intersecting lines). I am an Engineer .. A geek so love geometry.
So the TA should work as long as we do not get something that drives the market higher and higher .. even the rate cut will only be a temporary crutch.
The other nice thing about the daily is that the intersection of the blue line and LR channel occurs right at the 61.8% of that FE plotted on a 1-2-3 sell formation.
Oh and by the way the second blue line is a mirror image of the 1st . I am using the history of the previous drop from 13500 to 11500 to forecast this one.
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