DJIA neutral

US stock market anomalies in August confirmed! What now?

18 August 2022 372
Load the latest quotes
Full screen

The turn-of-the-month effect and the half-of-the-month effect were confirmed in the second half of August. The confirmation came with the significant increase of the DJIA by 3.4% and 3.1% respectively.


At the same time, the index has come close to the 61.8% Fibonacci retracement level, a little below which a reversal Harami pattern has formed.

Despite the lack of an obvious usefulness of Harami in forecasting of price movements, if the model is confirmed today by closing at a level below 33800, the DJIA might go down to the level at 22250.

This content is for informational purposes only and is not intended to be investing advice.

error
More
Comments
New Popular
Send
Commenting rules