4/22 Daily Commentary

Here is a chart showing resistance at 11,150.  This is a 880-day simple M/A:

There are multiple M/As across market segments that show resistance in this price range.  I will not fight an up I1 but will wait for the break in support to put me short.  DJI 10,950.
As far as targets for the downward move I look for initial support at 9000, then 7000 for the November bottom.   9000 could be hit by July.