A review of the Dow 1-hr chart was performed between August 21, 2024 and September 3, 2024. Results indicate Market Makers were using an inverted Fibonacci technique shown in the first chart. This provides a method of inventory accumulation for the Market Maker when needed. It also provides algorithms with data needed to move the Dow up to its 16.83 degree upper trend line.
Note that this information is for educational purposes only and not a recommendation.
Charts courtesy of StockCharts.com.
