First real major support for the Dia
Over a week ago, I pointed out the extension of the Dia using the monthly RSI, where it has never been this high historically. I am not here to point out that I am right. But it is frustrating when the moves happen so fast, where the human mind can not adapt that fast. This chart shows the potential level of the first major support for the dia. I predict it may be around the 225 to 227 level. If this does not hold, we could have more downside and a potential bear market. The 225 to 227 around the 200 dmva, a 50% retracement of Fib breakout range, top of the breakout channel and finally its a 15% decline from the Dia high.
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