Dow Jones: the rebound may extend towards 32,200

( – After its longest sequence of decline in 100 years (8 consecutive weeks and a 35,300/30,700 spread), the Dow Jones rebounded, without having materialized a ‘capitulation’ sequence (large spreads, large volumes, sales ‘at all costs).
This is the slow deflation of a ‘bubble’, not a bursting: the Dow Jones has just retraced its bottom at the end of February 2021, but not yet the historic ex-zenith of 29.560 on 02/20/2020 , which the breakout of 32,300 seemed to prefigure.

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