DOW

As can see clearly....The trend line held on first attempt.....now if it goes to the trend line for a second attempt it will be too risky to short at that level today...

This is an hourly chart of the Dow,

I’m going to short this rally on a first attempt of that down trend line......as it looks like it’s going to be in an area of resistance when the price gets there....currently around 20200 area but that change each hour lower.....so one to watch...
Remo

Also potentially a few exhaustion gaps down today....

Here we are - 50% Fib of the rise up from 2009 lows and a major battleground in 2015/6:


FTSE also hit 61.8% Fib on Friday:


I guess the question is: has this been the first of 3 corrective waves down, or the entire correction? Seems difficult from an economic perspective to imagine it's the whole correction.

61.8% Fib for Dow is c. 15300 and WS's Feb 2016 low close is 15660.

Stay safe and stay at home everyone.

One point here also....With most of the western world, could even say the whole world effectively shut....

i don't think the markets will bottom until we have some sort of medical breakthrough...it could just keep hitting and breaking below support level after support level imvho...

atb,
trendfriend

Well was i looking at this just now(can't resist!)
Things always look much clearer if there's no pressure of actually trading it!

dow - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...ljpaReB/+rUZEsYaVVs=

Is that a bear flag which we broke below today??
Very close to this key 18,000/18200 support area...
OK, Its not very clear....so what about the ftse and dax?

ftse-daily
uk.advfn.com/p.php?pid=chartscreenshotsh...zreByRCmnsQe9snjU%3D
pretty clear bear flag here....imho..

Dax - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...%2FICR3FMqxK74TdA%3D

again to me that's a pretty much a bear flag...
sometimes it can be a fine line between bear flag and a bottom and rebound....but it has to be said all of these indexes are still making lower lows.....

I think a break below 18,200....or make it 18,000 to eliminate doubt....with some kind of gap type technical event....could well be the momentum trigger for the next leg down on all the markets imvho...

atb, wdik, dyor,
trendfriend