DOW JONES: Eyes a -16% correction when this Resistance its testeDow Jones Industrial Average IndexTVC:DJIInvestingScopeDow Jones is overbought on its 1M technical outlook (RSI = 69.311, MACD = 3166.510, ADX = 43.989) and is on ATH levels. The 17 year Channel Up since 2009 has produced strong corrections when the 1M RSI is overbought and more specifically when the 1M RSI tests its 71.00 level since 2021. The smallest correction the market had was -16.04% and on all occasions, it bottomed at least in the middle of the 1W MA100 and 1M MA50. A -16.04% correction for the current level would still be above the 1M MA50 (TP = 43,500). On such overbought conditions, it is highly likely to see history being repeated. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##