$DJI
Added 2024-12-17 15:32:31 +0000 UTCThe Dow Jones Industrial Average, the benchmark of the US market since inception in 1896 is looking like it is on limited time now above the 2.618 Fib, we can see that this was the limit for the Cycle Wave 3 too.
It is unlikely going to stay above this level for too long.
As we know, we use the 2.618 Fib on all our charts for Wave 5 and it is no different here too.
It can extend as always but what is clear is that we are not at the start of a bull market and something substantial is likely going to come next to the downside.
Comments
Where would an ABC correction put the Dow from here? What price levels would the fib retracements be based on?
Jake
2024-12-17 16:21:13 +0000 UTCIt's certainly on the bullish side and he does not believe there will be a 1929 style crash but a standard pull back
Gareth Neary
2024-12-17 15:55:06 +0000 UTCCap. What do you think about Tom Lee’s $SPX 2025 prediction to 7000 by mid summer then a drop to 6600 EOY ?
manjunath
2024-12-17 15:54:17 +0000 UTC
