On November 1, 2021 the Dow: 83% post noted that the Dow would start a decline on November 8, 2021. Congress passed the $1.2 trillion infrastructure bill on November 6, 2021. This was followed by the Dow peaking on Monday November 8, 2021 with a new all-time high while a significant number of very large block trades occurred between November 8, 2021 and November 9, 2021. Prior to this move, daily engrbytrade™ Dow calculations shifted to indicate the Dow will continue developing a declining structure. The chart shown below provides an update to the rising wedge discussed on November 1, 2021. As of Friday, November 19, 2021 the Dow landed on the 83% mark and is expected to continue moving lower.
Stock chart courtesy of StockCharts.com.