03/18
Dow Jones began its free-fall journey since 02/24 for the 4th week with -32% drop. It is time to arrive multi-year rebound or support level: 18000.
This level was 6-year rally top (2009-2015) and beginning point of Trump’s rally (Nov 2016) until Feb 2020. Furthermore, this level serves as important place for the bears to take a little break. There are no other place better than 18000 for support and rebound.
Thus, when Dow arrives 18000 or nearby region, it offers opportunity for profit-taking on short/put and opening long/call positions for rebound wave.
