#macro #DJIA #Daily #Expanding Flat
I my previous bearish update I noted that “Dow played out a macro short failed breakout setup. It first popped over the Aug 22 top 34,339 but then dropped back under that level. We got a tricky corrective Expanded Flat A up, B down, C up structure where B down made a lower low in October, played a failed breakdown long setup, triggered a strong short squeeze rally, and then managed to overshoot the top of wave A up made in Aug’22.”
A daily close under 33,500 would be a solid confirmation that DOW has finally turned down.
Under 33,500 decline should accelerate.
The target 1 would be 200 MA = 32,480.