Today, Market Makers moved the Dow to a low of 38, 499 with an opportunity to accumulate additional stock (inventory). This move fell within a few points of the 8.92 degree trend line shown in the chart below. Based on CNN’s Fear and Greed Index moving to a low of 18 today, Market Maker priorities could shift quickly and expedite a move to the upside. This would be similar to the Fear Index reading of 18 (+/-1) on September 29, 2022, March 15, 2023, and October 3, 2023.
Charts courtesy of StockCharts.com.
