alanmasters
Short

Dow Jones Industrial Average (DJI) Preparing for a Huge Drop!

TVC:DJI   Dow Jones Industrial Average Index
The Dow Jones Industrial Average (DJI) is preparing for a huge drop , according to the chart above, let's take a quick look.

On the chart:
  • We can see that a new high was created on the 3rd October, which was quickly followed by a strong drop . Even though the Dow Jones created a new high, the MACD and RSI are going down, this is bearish divergence and a very strong one.
  • Last time we saw this type of divergence on the RSI was before the 2008 crash.
  • The RSI bearish divergence is also visible on the yearly time frame.

Yearly chart:
A strong drop is coming for the Dow Jones Industrial Average (DJI), you've been warned.

Note: This is no trade advice.
This information is for educational and entertainment purposes only.

Thanks a lot for reading.

Namaste.
P.S. If you enjoyed this post please like and follow.



Comment: We are dropping already. EMA50 (magenta line) worked as support.



- You can expect a little consolidation and then another drop.
Comment: The coming weeks are going to be painful ones for DJI. More drop incoming:
Comment: Our bearish view remains. More stocks and indexes are becoming more and more bearish.
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Hey man, I'm a bit late on this but the forecast is still quite valid. Thoughts on a triple top here?

Reply
@eudotong1, I think it can fall before reaching the triple top.
+1 Reply
eudotong1 alanmasters
@alanmasters, Gotchya I entered my position this morning. Will add more on another lower high.
Reply
By next year $14k
+1 Reply
@sarzu, More likely next year.
Reply
Any advice on how to find over valued DJI stocks to bet against for the coming drop?
Reply
alanmasters David_Scott
@David_Scott, Look for bearish divergence on the MACD and RSI.
Reply
Alan how do you think the DJI drop will affect the crypto market? I've red that this might cause a crypto drop as well, one because of previous statistics and second because crypto ain't a secure option for traders (too volatile)!
I'd like to hear your opinion ;-)

Best
Ar-
+1 Reply
@ArsenB, Crypto holders are leaving crypto, so new money is always good regardless from where it comes.

It can affect the crypto market in a positive way if people flight from there.
Reply
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