Dow: rapid decline of high level

The Dow Jones index closed down 490.48 points, or 1.56%, at 30947.78 points on Tuesday, June 28; U.S. stocks closed sharply lower in the broad sell-off as poor consumer confidence data dampened investor optimism and heightened concerns about the economic recession and the upcoming earnings season.

According to the 4-hour chart, the power of high short positions fell rapidly, fell below the Bollinger belt index and entered the middle and lower rail range, and continued to fluctuate downward. The short-term short position downward power may continue. The Bollinger belt index continued to show a closing trend, MACD index kept sorting out and slowly downward in the long position, and RSI index kept fluctuating downward to the lower side of the 50 equilibrium line in the long position;

Long short turning point: 31085

Pressing position: 31302, 31553

Support position: 30720, 30523

Trading strategy: down on 31085, target 30720, 30523

Alternative strategy: bullish above 31085, target 31302, 31553