DOW

Dow futures up to 14150, could hit your short entry target 14198 tomorrow.

first a shooting star on the dow and now a possible hanging man...lol
days still young so the hanging man may change by close.
sell in may and come back in october may be a good thing this year as the 85billion spending cuts comes into force at midnight tonight i think and will last till October.
careful out there

Hi ammo
The signs are there for a reversal but you cant pre-empt it.
The rsi is diverging but also its trying to breakout of the short term RSI trend line .which could imply higher prices.
Today was obvious with regards to the volatility due to all the key people giving speeches. Also the US manufacturing data came in better than expected and the consumer sentiment was also good.
Im still gonna short on first attempt at 14198 with a 40 point stop during market hours only for today.

remo wrote: im surprised no one mentioned the small shooting star yesterday on the dow???

Remo what do you make of the MACD and RSI negative divergence? Signs of a reversal or am I clutching at straws?

Remo you weren't wrong about the volatility today. It was more than 150 points lower an hour and a half ago.

im surprised no one mentioned the small shooting star yesterday on the dow???