Here is a weekly chart of the Dow Jones 1927-1936. The Dow was following the 20 moving average(yellow line) as support and then as resistance.The Dow lost 86% from it's highs before bottoming. I hope we don't copy that!
Moving Averages, Pivot Points and Gaps
Here is a weekly chart of the Dow Jones 1927-1936. The Dow was following the 20 moving average(yellow line) as support and then as resistance.