The Dow doesn't have too far to fall to move back into the...

The Dow doesn't have too far to fall to move back into the channel it has been in for the last 8yrs (effectively since the start of the post GFC climb).

Use the log scale to give a more appropriate view of how cooked that index is, and it paints a far less portentious picture that the usual scale, imo.
In saying that, DJ futures suggesting another big hit again tonight. (currently off 4.5%!)

Unfortunately the sheepish ASX follows like a dog does its master when truly, our market is far from as overcooked as their's is... Still, we must all suffer their panic.

The bigger question to me; Is a resumption of Dow's 8yr channel going to be seen as enough of a correction? Even before the last 6mths worth of heat, i believe it was already on an unsustainable trajectory.

(DJI weekly)


Interesting watching how we each respond to these sorts of cyclic events.
Certainly there is opportunity for traders and patient accumulators alike, with the panicked and ST crews normally being the group to suffer.

Just saying, the Dow looks like it hasn't finished its correction. But fundamentally it means next to nothing for punters who are here to see how a concept grows legs, and how a local story unfolds on a global scale.

In the meantime while we watch, it's powder dry for me, but i'm locked and loaded.