Is that it for the downside?
signs of a rally - the market found support at the bottom of it's trading range. And a
Caveat: it did pierce support so might be a warning sign.
Dow 2 hour chart
No break of down trend (yet)
Some positive divergence
Looks like 24750 could be touched and still be in down trend
A break above 24750 may be sign of bigger and longer rally - countertrend or nw bullish move
DOW daily chart
Clear hammer candlestick on the daily, which is a bullish reversal. Clearly shows the previous support (look left) being pierced.
Hammer candlestick can be bullish but:
"𝙒𝙝𝙞𝙡𝙚 𝙩𝙝𝙞𝙨 𝙢𝙖𝙮 𝙨𝙚𝙚𝙢 𝙚𝙣𝙤𝙪𝙜𝙝 𝙩𝙤 𝙖𝙘𝙩 𝙤𝙣, 𝙝𝙖𝙢𝙢𝙚𝙧𝙨 𝙧𝙚𝙦𝙪𝙞𝙧𝙚 𝙛𝙪𝙧𝙩𝙝𝙚𝙧 𝙗𝙪𝙡𝙡𝙞𝙨𝙝 𝙘𝙤𝙣𝙛𝙞𝙧𝙢𝙖𝙩𝙞𝙤𝙣. 𝙏𝙝𝙚 𝙡𝙤𝙬 𝙤𝙛 𝙩𝙝𝙚 𝙝𝙖𝙢𝙢𝙚𝙧 𝙨𝙝𝙤𝙬𝙨 𝙩𝙝𝙖𝙩 𝙥𝙡𝙚𝙣𝙩𝙮 𝙤𝙛 𝙨𝙚𝙡𝙡𝙚𝙧𝙨 𝙧𝙚𝙢𝙖𝙞𝙣. 𝙁𝙪𝙧𝙩𝙝𝙚𝙧 𝙗𝙪𝙮𝙞𝙣𝙜 𝙥𝙧𝙚𝙨𝙨𝙪𝙧𝙚, 𝙖𝙣𝙙 𝙥𝙧𝙚𝙛𝙚𝙧𝙖𝙗𝙡𝙮 𝙤𝙣 𝙚𝙭𝙥𝙖𝙣𝙙𝙞𝙣𝙜 𝙫𝙤𝙡𝙪𝙢𝙚, 𝙞𝙨 𝙣𝙚𝙚𝙙𝙚𝙙 𝙗𝙚𝙛𝙤𝙧𝙚 𝙖𝙘𝙩𝙞𝙣𝙜. 𝙎𝙪𝙘𝙝 𝙘𝙤𝙣𝙛𝙞𝙧𝙢𝙖𝙩𝙞𝙤𝙣 𝙘𝙤𝙪𝙡𝙙 𝙘𝙤𝙢𝙚 𝙛𝙧𝙤𝙢 𝙖 𝙜𝙖𝙥 𝙪𝙥 𝙤𝙧 𝙡𝙤𝙣𝙜 𝙬𝙝𝙞𝙩𝙚 𝙘𝙖𝙣𝙙𝙡𝙚𝙨𝙩𝙞𝙘𝙠"
So tomorrow should see follow through to the upside to confirm and volume should increase.
If this fails to happen, likelihood increases of sharp move down to previously mentioned levels 22k Dow.
