On May 13, 2024 it was noted that the angle of support was 8.92 degrees during periods of Exchange Insider distributions. This same angle supported the Dow during 2021 and 2024. On August 5, 2024 the 16.83 degree upper trend line was added. As of October 8, 2024, the Dow has developed to a point where it is similar to its 2021 chart structure.
It appears Market Makers have taken deliberate steps to follow the 2021 chart structure. There is a high probability the Dow will repeat the initial 2022 chart structure pattern with a decline starting this month.
Note that this information is for educational purposes only and not a recommendation.
Charts courtesy of StockCharts.com.
