DOW JONES: The top is close. Pullback expected.

Dow Jones is unfolding the second rally sequence of the 1 year Channel Up and has reached today the 0.786 Fibonacci level of July's High. The 1D technical outlook is about to turn overbought (RSI = 68.650, MACD = 236.580, ADX = 32.415) and as the rally approaches the R1 level (35,100) as well as being almost on the +9.05% range from the bottom, we are looking towards a late April peak formation and pullback.

The pullback is expected to be at a -2.75% minimum, like June 23rd that reached the 1D MA50. Sell, TP = 34,300.

See how our prior idea has worked:

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