DJI (8H) - still a bear market

I show why the DJI (Wall Street) is still a bear market - at this time (only). Expand the chart for a better view.

There is what looks like a parallel channel heading south and two sharp ATR switches. Price moves around in the channel, breaks out and back in. Note also that what looks like a channel now, could change into some other formation. The market does as it likes. This formation is not predictive. It can give an idea of what to expect, from wherever you find price on your chosen time frame.

Very unusual things can happen with channels. Some may have seen a recent fallout on the 2H time frame (which doesn't mean the same thing will happen on this time frame. )

Disclaimers: This is not advice or encouragement to trade securities. Chart positions shown are not suggestions. No predictions and no guarantees supplied or implied. Heavy losses can be expected. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
The S&P 500 is now overvalued 26 times earnings. And now there is trouble in 'Chinatown'. [Different perspective on the virus ]


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