To be a trader, we must keep our cool and at the same time to be some sort of Technical Analyst and Fundamentalist , of course, we cannot be compared to the recognized experts.but at least we can apply some very basic concepts and theory. on the Trading market.
The DJ close , if you see the below chart, the recent Plunge in the index is only considered as a DIP,, even though it is already very much below the 200 D EMA. It is still no BEAR market on sight! The recent V WAVE on the 9868 level will likely move from 1 towards 2 upwards the 10200 short terms.!!RSI is also supporting the positive bias.
I would only consider it a Bear market if the DJ goes below 9573 decisively for more than 3 trading days.
(8% from the PEAK of 11258,, or 20 % average Equity Price reduction on average)
Looking ahead, we shall see a gradual calming down both the VIX index and Fear.Factor in the Market
Happy Trading
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