Small W bottom in Dow Jones

[wp_lightbox_prettyPhoto_image link=”http://www.economicsignature.com/wp-content/uploads/2018/04/20180406-DOW.png” description=”Dow Jones had a small W-bottom, and it bounced back. From the calculations, the first target of the bounce is 23,632, and the second target is 24,260. However, the size of the current head is much larger than this W-bottom, so the second target is not likely reachable immediately. The major trend remains bearish till the stock market forms a much larger bottom to triumph the current head.” source=”http://www.economicsignature.com/wp-content/uploads/2018/04/20180406-DOW.png” title=”Small W bottom in Dow Jones”]

As I mentioned in the last week, the stock market was at a critical point (Critical point). Now we see Dow Jones had a small W-bottom, and it bounced back. From the calculations, the first target of the bounce is 23,632, and the second target is 24,260. However, the size of the current head is much larger than this W-bottom, so the second target is not likely reachable immediately. The major trend remains bearish till the stock market forms a much larger bottom to triumph the current head.

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