Looks like a pennant flag to me.
Yes a break out in either direction looks likely and with there being little to cheer about in the current US data it could break below 8500 and keep going down?
I do know that people buy stocks in the US for growth on capital wealth not necessary for yield.
Hope you see some clarity in this mud. Current situation is hard to call though I would be leaning to the DJI looking for a bottom in the 1st quarter as unemployment looks set to grow to 7-8%. Suggest we see the bottom just before that 8% mark by a month or two.
Good Luck for the New Year it looks even more volatile than the one before it.
Looks like a pennant flag to me.Yes a break out in either...
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