Dow Jones Index tumbles for a dive 🏊📉

Hello good day fellow traders!

📰Fundamentally,

The Dow falls 300 points, and the S&P 500 falls 1.3%, as investors focus on The Fed's reaction to strong US economic data

Stocks fell on fears that the Federal Reserve may need to tighten monetary policy more aggressively in 2023 than previously anticipated to tame high inflation, given that the US economy has proven relatively resilient to the Fed's aggressive pace of rate hikes this year.

The 10-year Treasury yield was also rising, rising 7 basis points to around 3.58% on Monday, while the 2-year Treasury rate was at 4.36%.

🤔On the technical front,

1.) Looking at the H4 chart, despite the fact that price is in a bullish uptrend, I'm looking to potentially play the pullback with a sell entry at 34106.01, where the previous high is.

2.) I have a fairly safe stop loss set at 35492.22, where the previous swing high is.

3.) I intend to take profit at 32135.41, where the 61.8% Fibonacci line is located.

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Sell Entry: 34106.01📉

Take Profit: 32135.41 💲

Stop Loss: 35492.22❌