DJI Update 14 August 2019Daily Data for Wednesday 14 August 2019
In Bear Territory
Price Projection: 25119 (break out) 24076 (if negative strength prevails)
HMA: Very Strong Bear
BSI: Bearish
Bull RSI: Bear
Bear RSI: Bear
5 RSI: Negative
Consolidation:Broken to the low side
Price- Trend: 2.93x ATR
Prices are now 2.93x ATR away from the mean. Expect some mean reversion (return toward the MAs) before any further movement.
Attached yahoo finance article regarding the futures position for the 15 August 2019. This is an example of set-up for a reversion to the mean. We may start there and fall or we may start low and move high. What ever the case may be. Prices don't like being 3x or more away from the mean.
