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Friday, October 12, 2018
Dow Jones Broke Its Uptrend Line
Yesterday DJIA broke its long-term uptrend line at 25200. If there is no recovery, DJIA will follow Nasdaq which broke its uptrend line at 7700 on October 9.
Chart 1: DJIA's weekly chart as at Oct 11, 2018 (Source: Stockcharts.com)
Chart 2: Nasdaq's weekly chart as at Oct 11, 2018 (Source: Stockcharts.com)
We have to wait and see whether US markets can stabilize next week or go down further.