I am throwing this back to when I was measuring the Dow 30 in terms of its geometric and area based facts. It made its way all the way up to 23,619 and since then attempted to reclaim that level once at 23,565
The two shaded ovals denote where there is some buying action, meaning the discount of the yearly highs was quickly bought up; they sopped up the low prices with a decent amount of deman
Being that the price was tarnished already: 23,247 it could be relatively stale going forward should we decide to claw through that level and continue trending to the downside [descending trend line captures most of this pullback]
I don't know how fast or how much lower things can go but on the daily chart the pattern is beginning to emerge.
- We have undercut several lows
- The highs are being wiped out by a bigger amount of sellers
The confidence in short selling will return at least that is how the charts are acting.
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