On Friday August 26, 2022 a bearish engulfing candle appeared along with daily engrbytrade™ Dow calculations showing results that are similar to what occurred on April 21, 2022. After several weeks of Market Maker distributions in July and August the Dow is expected to continue moving lower through September 2022. This move will provide a path to lower trend lines shown in the chart above.
Stock chart courtesy of StockCharts.com.