Previous Price Action Don't Look Too Promising !
Since 2 to 11 Mar Dow Jones Index have failed after every rebound without a follow through buying and in fact prices got lower subsequently .
Donald may have chosen to declare national emergency to combat the Covid 19 just 30 minutes before the market close to catch the short sellers . He also caught the market by surprise by directing the US Energy Dept to purchase crude oil for the strategic petroleum reserves . The announcement triggered a wave to program short covering that lasted until the closing bell. Chances are short covering rebound do not last very long.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgPNaGirU5J5QO9aL8J0710pRfZMCZ49CDgEI5BODS19p5BKAXKlhS4FNvB5La60an55IKNjeGk-uAM5Wi3A1bocKZzByEApsFGyKyWKLKC18ftCUpKliSK8XiJp02CdfzX5_2wp_kNUkc/s640/failed+rebound.png)
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