I've learned somewhere that once Dow breaches the 10% off the last high, a corrective period is declared.
That is, not a short term correction or profit taking.
It would be the (temporary) end of the bullish period (that goes back to 2003, if I'm not mistaken).
I want to know it this 10% off is indeed a milestone to start seeing the market in a different way.
Not in the following chart, lines show the big bounce off 12.5K that was 10% off the 14 K high and the bounce off 12,723 that was 10% off 14.2K
In time, Dow is close to the 10% (12,700) area again, after a monster rejection off 12.9K this morning
For the records, the reason of this thread is because I'm trading carry trades only.
That is, not a short term correction or profit taking.
It would be the (temporary) end of the bullish period (that goes back to 2003, if I'm not mistaken).
I want to know it this 10% off is indeed a milestone to start seeing the market in a different way.
Not in the following chart, lines show the big bounce off 12.5K that was 10% off the 14 K high and the bounce off 12,723 that was 10% off 14.2K
In time, Dow is close to the 10% (12,700) area again, after a monster rejection off 12.9K this morning
For the records, the reason of this thread is because I'm trading carry trades only.
Attached Image