2020 2021 Dow Jones index forecast (DJIA, CME CBOE:YM) : end of rebounding, down to 15670
Will the stock market go up again? I don't think so.
The Dow Jones (DJIA) is rebounding after a crash, not rising. I am not sure how high they will rebound. If there is a very big force in the market, perhaps, they may rebound to 26700 or so. If so, it would be a very good opportunity to sell.
People are talking about the coronavirus, and the government is pouring huge amount of money. However, the stock market does not respond as much as that. It means the rebound is coming to an end and the stock market will start to fall again. The important price line is 23080, and the next support line could be 15670. I think it's time to think about selling, not buying.
[CME CBOE:YM Dow Jones index Futures monthly chart]
The Dow Jones (DJIA) is rebounding after a crash, not rising. I am not sure how high they will rebound. If there is a very big force in the market, perhaps, they may rebound to 26700 or so. If so, it would be a very good opportunity to sell.
People are talking about the coronavirus, and the government is pouring huge amount of money. However, the stock market does not respond as much as that. It means the rebound is coming to an end and the stock market will start to fall again. The important price line is 23080, and the next support line could be 15670. I think it's time to think about selling, not buying.
[CME CBOE:YM Dow Jones index Futures monthly chart]