-potential pullback in the near term
-more downside risk till March
INDU is showing the same pathological pattern of others notable market tops. There are analogies with 1929-1973-1987-1990 and here with 2000 tracking a failed H&S followed by new ATH. The reaction on the 240 DMA (220 DMA in 1929) like 14 yrs ago might take it to retest the 68 DMA (50 DMA in 1929), right before erasing any territory gained since Q2-2013.
-more downside risk till March
INDU is showing the same pathological pattern of others notable market tops. There are analogies with 1929-1973-1987-1990 and here with 2000 tracking a failed H&S followed by new ATH. The reaction on the 240 DMA (220 DMA in 1929) like 14 yrs ago might take it to retest the 68 DMA (50 DMA in 1929), right before erasing any territory gained since Q2-2013.