Feels like it is time to pay attention to Dow turning into bearish mood.
Bear face starts from this range 20620 - 20750 ? My guess.
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I’m not going to dispute your TA, you might be right, the Dow might do nothing but fall from here. And as you’ve got just 2 posts yet, I don’t want to be overly negative. But I would ask the question as to the thinking behind what you’re doing.
Are you taking actual short position on the Dow long-term, say for a month? That would tally with your TA approach but I’m going to suggest nobody has a better than 50-50 chance of being right about the Dow’s direction 1 month out from here or anywhere.
Or are you looking for short-term shorts on the Dow? In which case you’re very late.
As I say, I don’t want to be negative and I’m not trying to be smart but its common to see traders doing fine TA in one timescale but running their trades in another. Which is a little like running a sprint at marathon speed or vice versa.
PS: Where is your chart from, your broker? I ask because it does not show the massive opening gap on the 1st March. Many people would have read this as an exhaustion gap after a superb bull run but it only shows if your prices are limited tot he Dow’s actual trading hours.
