Dow (INDU) is still working on making its way up to the 11,200 - 11,300 level. It will get there soon. And probably make a quick move to do so. Once it does, watch for more downside action as the markets struggle with the Attractor, which will become resistance.
It will take a few weeks for the markets to settle in and start treating the 11,200 level as support. When that happens, we will finally see a run for previous highs.
Keep in mind that because of the prominent Head-and-Shoulders pattern on the monthly chart, we will probably see the Dow dip again into the 8,500 area and chop around between there and 11,000 for several years to come.
Now is not the time to be playing the markets, unless you do it short-term, and are a seasoned pro.
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