DJI continues correction
The DJI had its ATH on jan 26 and has been since in a correction wave - abcde- .
Also there is a falling trend line, combined out of the intermediate peaks.
And the indicators RSI and ADX are signalling more weakness.
All together I think the correction can lead the DJI to 22.380 pt where we find support (fib retracement 78.6%).
On the timetable this should be around summertime.
Fundamentally the american stocks are more expensive than european or asian stocks. And with rising interest rates in the US the investors are perhaps searching for other possibilities.
Also there is a falling trend line, combined out of the intermediate peaks.
And the indicators RSI and ADX are signalling more weakness.
All together I think the correction can lead the DJI to 22.380 pt where we find support (fib retracement 78.6%).
On the timetable this should be around summertime.
Fundamentally the american stocks are more expensive than european or asian stocks. And with rising interest rates in the US the investors are perhaps searching for other possibilities.
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