-3.05% move in the Dow gives us a BUY opportunity

-3.05% move in the Dow gives us a BUY opportunity

The Dow crashed more than 3% Yesterday on the first Monday of trading in 2021. This move is by no means a Bearish signal but more of a dip buying opportunity if the next scenario plays out:

The Georgia election for Senate are undergoing and this is SO important for stocks. A Democrat win would mean the Democrats would control both the House and the Senate and passing socially responsible bills (bigger stimulus packages) would pass without objection. This means more liquidity which is very bullish for stocks.
On the technical side we need some confirmations:

– Today’s session range is narrow but by looking at yesterday’s range we do have some room to move still.
– The 30100-30200 zone is super thick with the daily open, POC and daily highs in confluence.
– Price needs to break above this zone for a bullish run confirmation

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Author : Orlando Gutierrez

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