Posted byu/jonkuok
1 day ago
20200526 Trading vs Investing Share Market

The fact that the NASDAQ elected the Weekly Bullish strongly suggests that the low is in place there.

This certainly means we cannot discount the fact that the March 23rd low in the Dow could hold. That does not negate a retest. Assuming we see a new high this week on Wednesday or Friday, the hypothetical Weekly Bearish Reversal will most likely be generated in the 22900 area. That means that a weekly closing in the Dow below that could very signal the new low or a retest of the low.

Keep in mind that because the Dow is international, the key here will be the currency.