The market is worried that the economy will fall into recession, and the Dow index shows a V-shaped reversal

Fundamental analysis:

The Dow Jones index closed up 8.77 points, or 0.03%, at 31261.90 on Friday, May 20; At the close of US stocks, the Dow was close to flat. The market was worried that the economy would fall into recession, and the Dow once fell 600 points; After the three major stock indexes hit the bottom in midday trading, they pulled up a V-shaped rebound in late trading and staged a roller coaster market. The Dow fell 2.9% for eight weeks, the first time since 1923.

Dow Jones dj30 - 4-hour K-line chart shows:

Technical comments: the short power continues, the middle and lower rail section of the brin belt index channel continues to fluctuate downward, and the low level rises rapidly after reaching the node near 30582. The short-term low-level bulls are waiting for the opportunity to enter. The brin belt index shows the opening of the short, fluctuates downward and begins to close. The MACD index is in the low position of the short area and maintains the consolidation and translation, and the RSI index is in the short area and maintains a narrow range;

Long short turning point: 31316

Pressing position: 31550, 31791

Support position: 30942, 30695

Trading strategy: 31316 bearish below, target 30942, 30695

Alternative strategy: bullish above 31316, targets 31550 and 31791

The above analysis is a personal point of view and is for reference only.