Dow Jones Bearish Wedge Breakdown and Failed Backtest

20 thg 6, 2020

The Dow Jones futures, much like the NASDAQ and S&P 500 futures has formed a bearish rising wedge from the March lows. Last Thursday's bloody drawdown broke the index out of this structure, after which it tried to recapture it, which then failed, and a subsequent backtest looks to have failed now as well. This is in keeping with the other major indexes.

Any forthcoming selling from this point spells serious trouble. I am seeing rising similar patterns everywhere at this point.

20 thg 6, 2020

Ghi chú

I have a long-term Dow chart showing a megaphone pattern, but I have reached the maximum 10 ideas per day limit enforced by Tradingview, so I will publish it tomorrow.