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Scandex Market Update – April 3

Scandinavian Capital Markets

I’m still looking towards 23600 (or so) in ‘the Dow’ (long term chart below). Low today was right on the short term lower parallel and price also held VWAP off of the low and the 200 hour average. The dynamic around the 200 hour average indicates a near term behavior change. For whatever reason, the 200 hour average in index futures works. I’ve seen it for over a decade. Bottom line, focus is higher towards 23256/600 while above today’s low. The bottom of this zone is where the rally from the March low would subdivide by 61.8%.

Scandinavian Capital Markets Review

Source: https://scandinavianmarkets.com/trading-news/scandex-market-update-april-3/
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