Dow Jones US30 Chart Technical Outlook The correction lower is underway, with 43,364 first support
We are starting to see a sustained correction to the downside.
The first support level is located at 43,364. We have the previous swing high from October 18 at 43,375. What was resistance now becomes support. Elliott Wave analysis would suggest a bounce here as a mere 4th wave correction in a larger cycle to the downside.
The second support is located at 42,260. The 78.6% pullback level is at 42,280. This suggests we will build a large Gartley formation over the medium term.
The immediate bias is bearish.
