"DOW is in the same position as the Aussie Market and trading around it's July lows.
And the same expectation:- Friday close above 10837, then the expectation is an UPswing into August 50% level before any trend continues downward.
Weekly lows support and Weekly 50% level the trend guide....
first sign of added strength will be trading above the 5-day 50% level...."
DOW Weekly and Daily chartsUS markets rising up from their Monthly and Weekly lows, and a cross over the 5-day 50% level and continuation higher with the view of a rotation back towards the August 50% level.
Note:- there is still no breakout of the 5-day highs, and price is still trading below the Weekly 50% level, but Wednesday's trading in most global markets is the usual pattern for a short-term UP swing into the 3-week highs.
DOW 5-day pattern- Daily Trading Set-ups & Analysis
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