Dow Impulsive Selling for 6th Straight Day | Aug 21st

US Dow Index – Amazing 6 Day Bear Run
The Dow is now down almost 600 points in the last 6 days and continued the bearish impulsive selling we wrote about in our weekly commentary. In the last 3 years, there have only been four 6 day bear runs, with one of those times running for 8 straight bear closes. The next major key level coming up is just below at 14800 which was the July low this year that sparked the latest rally. Below this, there is not much support below till 14545 so a lot more downside available.

I’m not totally excited about chasing this market and trading breakouts at the moment considering there has only been 1 run in the last 3 years that went past 6 days. So I’ll look to sell any rallies towards 14950/75 area or further up around 15115 are good locations to sell to rejoin the downtrend. Besides the 14545 major support below, then 14030 comes up next which is over 800+ points lower.

dow bear trend impulsive selling price action 2ndskiesforex

Make sure to watch our latest article on theĀ 2 Most Common Questions Forex Students Ask

Want More? My private members get all my trade ideas & market commentary up to 3x per week. Click here to become a member.

Verified Profitable Trader

Hi, I'm Chris Capre, Founder of 2ndSkiesForex. I've turned $3,000 into $83,000 in my first 6 months of trading. I'm a verified profitable trader and trading mentor. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action and the Ichimoku cloud. As a trading mentor, I have one goal: to change the way you think, trade and perform using 18yrs of trading experience and cutting edge neuroscience to wire your brain for successful trading. Want to improve your trading edge and mindset? Check out my trading courses here.

Related Article