YM Downtrend until Gapfill Before next major rally
I am looking at a repeat of the previous correction back in July 2023.
Some key takeaways:
Deathcross triggered April 4th
Hourly 200sma is now in downtrend mode
Currently in a bear flag consolidation to pullback into the declining 200sma
Space under the low of the bear flag in relation to the prior pivot low
A gap that needs to be filled at the start of the move higher
I don't know where the bottom will be at but I do know that the next bull move higher WILL take out the highs and continue on to make even more all time highs as we are still in a bull trend. I forecast Dow Jones to be around 75,000 at 2033.
Some key takeaways:
Deathcross triggered April 4th
Hourly 200sma is now in downtrend mode
Currently in a bear flag consolidation to pullback into the declining 200sma
Space under the low of the bear flag in relation to the prior pivot low
A gap that needs to be filled at the start of the move higher
I don't know where the bottom will be at but I do know that the next bull move higher WILL take out the highs and continue on to make even more all time highs as we are still in a bull trend. I forecast Dow Jones to be around 75,000 at 2033.
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