Downside Objective For The Dow
If you read my last post, you would know that I was turning cautious on the dow based on several reasons one of which was a double top formation. Since that post which was only a few days ago, the dow has fallen and is now approaching my downside objective of 12300.
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4 comments:
Hi Kevin-
How did you arrive at the downside objective?
Thanks,
Anon
Take the width of the double top formation and double it
It's not clear what is your timeframe for this objective? Days? Weeks?
Without timeframe it doesn't mean anything. Let me explain.
My downside projection for Dow for the next 18 months is something between 8,000 and 9,000. So in its journey from 12500 to 9000 it definitely will cross 12300. The question is when?
Days, this is a short term trade
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