Stock Chart Today: Downtrend Development

September 24, 2020, 8:11 pm EDT

Downtrend Development

Dow Jones gave up a couple hundred points in intraday trading by ending +52 points as part of rebound effort in the middle of downtrend development. DIA shows that 270 is about in the middle of uptrend regression channel done during July-August. Then, September is the month of pullback or retreat. 

Full retracement level will be about 250 for DIA. It could offer potential support or rebound. Otherwise, a full scale downtrend will arrive with next stop to 230.

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