Dow Jones Industrial Average (DJI) Preparing for a Huge Drop!

The Dow Jones Industrial Average (DJI) is preparing for a huge drop, according to the chart above, let's take a quick look.

On the chart:

• We can see that a new high was created on the 3rd October, which was quickly followed by a strong drop. Even though the Dow Jones created a new high, the MACD and RSI are going down, this is bearish divergence and a very strong one.
  
• Last time we saw this type of divergence on the RSI was before the 2008 crash.
  
• The RSI bearish divergence is also visible on the yearly time frame.
  

Yearly chart:

A strong drop is coming for the Dow Jones Industrial Average (DJI), you've been warned.

Note: This is no trade advice.
This information is for educational and entertainment purposes only.

Thanks a lot for reading.

Namaste.
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Yorum:

We are dropping already. EMA50 (magenta line) worked as support.

- You can expect a little consolidation and then another drop.

Yorum:

The coming weeks are going to be painful ones for DJI. More drop incoming:

Yorum:

Our bearish view remains. More stocks and indexes are becoming more and more bearish.