Broadening Top Pattern
Dow Jones making a 13 year Broadening top pattern making higher highs with slight lower lows. The projection for this forecast is once it has topped at resistance it tends to come down to the supporting level, however the kicker about this pattern is support tends to get broken down through! which signals the possibility of the Dow going even further down than 5000!. Fundamentals support this idea as well as Federal Reserve stimulus and bailouts around the world have done little. Once it stops, the markets will correct to true values.
•NYC Trader of 15 Years in the markets
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•NYC Trader of 15 Years in the markets
•Need Help Trading? internaltrader.com/helptrading
•Need Help Trading? internaltrader.com/helptrading
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.