Dow - Head and Shoulder Breakdown
The very famous chart formation again happen in Dow Futures. The pattern target is eyeing 23842 with conservative projection from left shoulder instead of right shoulder.
However, if price hit 23842, it will be 50% retracement from the previous swing. In a longer term view, S&P 500 have divergence and yet to confirm. In Dow Jones, the head and shoulder pattern accompany with triple top foppish formation. With yield curve continue to steepen inverting. Equities traders or longer term investors must aware the increasing market risk. VIX is likely to travel higher.
However, if price hit 23842, it will be 50% retracement from the previous swing. In a longer term view, S&P 500 have divergence and yet to confirm. In Dow Jones, the head and shoulder pattern accompany with triple top foppish formation. With yield curve continue to steepen inverting. Equities traders or longer term investors must aware the increasing market risk. VIX is likely to travel higher.
