The Dow looks primed to fall at least another 750 points, so it’s no time to let your guard down. Thursday’s obligatory bounce came from just inches beneath the 24,965 benchmark I’d proffered Wednesday night as a minimum downside objective, but it didn’t get very far. By day’s end the Indoos were falling anew, on track to hit the 24,298 target shown. That’s a Hidden Pivot support of intermediate degree, and if it fails to contain the selling, expect more slippage to at least the 23,997 low recorded in June. We’ll be looking for a ‘counterintuitive’ bounce from somewhere near there, so stay tuned to the chat room for real-time guidance if you’re keen to bottom-fish.
Rick’s Picks trading ‘touts’ are for educational purposes only. Past performance is no guarantee of future performance. (See full disclaimer at https://www.rickackerman.com/)
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