Editor's PickPoliticsStocks Will Try To Rebound, But May Prove To Be Unsuccessful

2 years ago327 min
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S&P 500 Futures for now, are at the lower end of the trading channel, and if we do see a bounce today, I wouldn’t expect to get past 3,295. I drop below 3,200 on the S&P 500 futures, likely triggers a very steep and sharp decline to 3,000.

S&P 500 4 Hr Chart

S&P 500 4 Hr Chart

Dow Jones

I know we don’t usually focus on the Dow, but it looks like there is a head and shoulders pattern on the daily chart that has been completed and is now breaking down. A break of support at 26,200 likely triggers a drop to 25,000, a decline of 7% from its current price.

DJIA Daily Chart

DJIA Daily Chart

Apple

Apple (NASDAQ:AAPL) is trading a little bit lower today, with a drop below $106, likely trigger a retest of the lows around $104. But the big problem comes if the stock breaks $104 because that will open the flood gates to $96.

Apple Inc Chart

Apple Inc Chart

DocuSign

DocuSign (NASDAQ:DOCU) retested the breaking of the uptrend and failed. It confirms the move higher is over, and that a drop to $160 is likely in the works.

DocuSign Inc Daily Chart

DocuSign Inc Daily Chart

Boeing

Boeing (NYSE:BA) fell below support at $157, which probably leads to that decline to $144 I have looked for.

Boeing Daily Chart

Boeing Daily Chart

Original Post

Stocks Will Try To Rebound, But May Prove To Be Unsuccessful

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