David Paul, Managing Director at Vector Vest, explains the danger ahead in Dow Jones and the SP500 index using Fibonacci levels and Elliott Wave Analysis, and further offers the outlook for stocks – AVON, DTG, BPI and BWY.
DJIA and SP500: Game over for the bears?
Paul highlights how the recent rally in the US equity indices from the black Monday low’s is part of an ABC correction and how Fibonacci players might re-enter the market for selling.
Paul explains how the Dow Jones might see a pullback heading into 17650 and above, after which a wave higher might be seen.
Watch the video for further insights into the US indices, and the outlook for stocks.
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