Dow got less time this week and though it showed up moves around 13300 but I am not pleased with its last day closing.
In this moment if Dow failed to cross 13250 then that will definitely not a good sign for overall stock market because in that case Dow will be making lower tops and the medium term bearish pattern which I have mentioned in past will become true. The pattern which I am talking about is not totally clear yet but if it fully reacts then Dow may test up to 12400 levels in the downside.
Early days of the coming week may be important for Dow because considering its last day closing Dow may try to break 13000 levels. Dow is trying to make lower highs and now it will be important to see whether it also make the lows below 13000 but here I will be waiting for definite proofs.
If Dow does not drop more from here (or drop less may be around 13000 levels) then it may give strength to the short-term bullish pattern which I have mentioned in my last week review. But for that it hast to first break 13250 level.
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