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Dow Jones-Background
Dow Jones-Background
Dow Jones-Background
Does it mean the low is in? Perhaps, perhaps not. But it is a good place to start with the
help of significant backing by the Fed, and soon to be joined by massive fiscal efforts.
From a technical standpoint the current bounce has room to run given the size of the down-
move just seen.
Should the rally start to extend from current levels, there are a couple of gaps on the upside
to watch, starting with 21237, then followed by 23185 and 23553. There is a price level
from the 2018 low at 21712 to watch as well. Once an initial bounce has run its course, a
retest or a new low may be in store before prices can sustain for a longer period of time.