re: Predict the Dow Jones’ bottom

This early week optimism is showing that there remains some support at the mid 31k range. Since the hard break below 33k, there was a (dead cat?) bounce from ~31750 up aroud 900 points. Then, after last week, it bounced again off ~31250.

Intraday support for about 30800 (last Friday) shows a potential second line of support if it breaks too solidly below 31250 to recover.

Now, again, this could just be an early week rally as I did feel some capitulation in both the Dow and S&P mid-week last, but there seems to be some fight left in the blue chips and broader index.

From where we are now? Another 10% would be down to about 28K. Another 20% would be 25k. I think we'll know a lot more after this week, going into the Memorial Day weekend, Summer coming, etc.