On August 5, 2024 Market Makers were in the process of accumulating inventory as the Fear and Greed Index moved to a low of 18. The Dow is expected to move higher using a chart structure similar to December 2021. A 2024 preliminary Fibonacci retracement structure has been applied as a guide for this move upward. If this move continues as expected, it will be volatile and lead to a projected peak of 42,062.
Note that this information is for educational purposes only and not a recommendation.
Charts courtesy of StockCharts.com.
