DJIA
📉 The Dow Jones (DA) shows a confirmed double top pattern, followed by a pullback to the structure before resuming its fall, indicating a bearish reversal.
⚠️ Similar bearish patterns (double tops, pullbacks, weakness) are observed in the S&P 500 (PIS) and Nasdaq, reinforcing the negative outlook for the broader US market.
📉 The Relative Strength Index (RSI) for major US indices failed to surpass the 50 level during rebounds, signaling a lack of upward momentum and confirming the downtrend.
@ClaveBursatilTV:
“And now I will move on to Wall Street. And here you see how the fall was caused. This fall is already in a downtrend. Why do I insist it’s a downtrend? You know why I insist? Because here I have a resolved double top, and when it makes the pullback, it hits the structure to fall again. So, what do I have in sight? Falls and rebounds. I don’t have impulses and pullbacks; I have falls and rebounds. I see this in the Dow (DA). The RSI reaches 50 but cannot break through. Let’s move to the S&P (PIS), which has the same figure, just an ascending double top. Here, in the fall, there were gaps; it went to close them, but it doesn’t have the strength for the RSI to pass 50. So, I have a fall and rebound, fall and rebound, and I will continue with falls because that war is by no means over, but it has a 3-month postponement. What’s the deal with a 3-month postponement if you have 3 more months of fall and rebound? How do you explain that to me? And let’s go finally to the Nasdaq. The Nasdaq has a confirmed double top, pullback, and fall. I don’t have much to say if it’s the simplest reversal figure that exists in technical analysis, which is frequent and highly efficient; that is, it normally fulfills, it rarely fails, it almost always happens. And why wouldn’t I believe it? Because it doesn’t have the strength to overcome 50 in the RSI. That’s why I won’t believe it. The truth is, I believe if I have to migrate, Wall Street is in a bearish trend.”
Watch the exact part of the video where @ClaveBursatilTV talks about Dow Jones Industrial Average (US Market) here:
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