DOW

nice move up and imo coming into completion, then expecting choppy sideways move down (not a fast waterfall that was seen in the move down from highs) to retest the lows to complete a Flat correction - probably sometime in Aug2020. Dow is KEY.

hope all well and stay safe folks !
WS

here's the 2nd chart of the notice black box

this is a cash chart - so accomdate futures moves, as that when stop killers come out to play.

Look at the clear head and shoulders pattern forming....
One to keep an eye on...

remo wrote:

Look at the clear head and shoulders pattern forming....
One to keep an eye on...

Head and shoulders still intact?
Is this heading for another leg down ?

As far as I was concerned, we broke the trendline, of the head & shoulders, tested it today (not in market hours though) and now is the start of the next leg down. We had A and B, now for C.

I was expecting, past the low of March.

Remo is the expert, a potential target would be great?

My bet, I had a go.

The 61.8% fib, is exactly at horizontal support. 15,293.

So between 15,000-16,000. This will be combined with everybody panicking and wanting out of shares, as it's dropped so much, and then we'll start to move up again.

Paul Schatz, the president of Heritage Capital, said the Dow could hit 30,000 points by 2021 and 40,000 by 2023 as the U.S. economy recovers over the longer term.

“To bet against the U.S. economy and consumer over the long-term is a loser’s game,” Schatz said in a first quarter note to clients.

“I firmly believe we will see Dow 30,000 in 2021 with Dow 40,000 coming by 2023. Once we get over this massive hurdle, there will be too many things working in favor to derail that train when it gets going.”

Markets push higher as Moderna reports positive vaccine results
Optimism that a vaccine to combat Covid-19 will soon be produced is also driving the markets higher today.

DOW futures looking good aswell up 700. Starting to open long positions. I don't see this crashing, all the bad news is built in.