Before moving higher, daily engrbytrade™ Dow calculations indicate a decline should occur with a move below the lower trendline of the current falling wedge formation. This chart structure continues to develop into an engrbytrade Eight Point Trading Model TM formation, which is typically found within intraday futures charts. A structure similar to this can be found in the 1-hour Dow futures chart between February 10, 2022 and February 24, 2022. A sharp decline below 28,405 is expected before moving higher as it did between February 24, 2022 and March 30, 2022.
Chart courtesy of StockCharts.com.