Dow Jones $DJI …And we are ON THE LOWS

Dow Jones $DJI …And we are ON THE LOWS
December 10 17:06 2018

     Well folks we are on the lows to start the week, down a quick 400+ points to start the morning trade off and climbing lower. I saw the outlook for this week was very bearish in a recent post and you can see that this morning. I find it very hard to believe that this action stops here considering markets do not usually bottom (intermediate) on Fridays or Mondays, however I suppose anything is possible.

     My bet is that this 23500 and early 2018 lows will be tested in the coming days where the market and buyers will attempt to make a stand.

     This will be a good spot for a “bounce opportunity possibly” depending on the buyers reaction and if there is any panic. Regardless, the outlook stays the same and we are bearish below the 200 day moving average usually signifying the market is in a downtrend. I am 100% cash and may look to play this bounce, however timing a bounce (or falling knife) sometimes is not even worth it considering you know the lows aren’t in.

     I have a feeling this is only just getting started in the big scheme of things.

  Article "tagged" as:
  Categories:
view more articles

About Article Author

heyimsnuffles
heyimsnuffles

Just Climbing the Wall of Worry and Picking the Right Time to Get out of the Way. I am a Nuclear Engineer who quit and has studied global and crypto markets for almost a decade.

View More Articles
write a comment

0 Comments

No Comments Yet!

You can be the one to start a conversation.

Add a Comment