First Weekend Post FEb 29 2020
Is the daily chart a buy yet, Liz Claman asked if it was Tuesday afternoon, and of course the answer was no, that is still the answer, check out the PMO in bottom panel
The daily chart has had multiple 'air pocket' drops, this is a result of an imbalance of orders, the sell orders over whelm the buys and the price must go lower to fill the sell demand. Note the PMO is no where close to a bottom.
Five Waves up on the Monthly Chart
This is a log chart percentage change is a constant
The arithmetic chart shows just how far the index is above the MAs.
A 50% drop would be 29,548 / 2 = 14,774. The 200 bar MA is 15,094, close enough!
Add the RSI indicator
RSI has dropped significantly in a short period of time suggesting a more significant top.
Sicne 2008
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