We’ve seen it before—and we might be seeing it again. The Dow Jones is showing a familiar pattern, and here’s what’s happening:
This market has a memory—let’s see if it chooses to repeat it again.
- The index has been repeatedly hitting the 1.618 Fibonacci extension from previous ranges.
- Right now, we’re approaching the 100% extension between the last swing high (~45,000) and swing low (~36,600).
- If the Dow breaks above that previous high at 45,000, there's a good chance we’ll see the pattern repeat—with 50,000 as the next target.
- It’s all about that breakout confirmation. Until then, we watch and wait.
This market has a memory—let’s see if it chooses to repeat it again.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.