DOW

pick ya spot & short the b wave rally imo for w4minor c down 13728/665 looks like a good spot for a 1st target and maybe a reversal. should see 5 waves down in a zig-zig or maybe a triangle just to add to some confusion... alternate minor 2 was irregular flat 13365-12883.

watch ya stops tho and manage them well, get a feeling the cleaners might come out to play after hours we hang abt round here.

line in the sand to invalidate - 14021

dont say the market didnt give ya chance today...

Remo - the Dow can dance and its dancing at the moment. I am taking that the 14198 can still be met as the fall today is at a random place - at not a known resistance. Maybe thats just the longs being closed just in case and one more last hurrah to take the unsuspecting lot to 14198 before it tanks?

if the dow finishes below 13860 today then id expect the dow to go towards 13660 as thats where the breakout point was. If that level fails then down she goes.

so the levels to watch for today are
13860

i will be really upset if we have had the top already All i wanted was for the index to move another 200 pips then drop. Its not asking for much.
The indexs are all struggling currently.
still waiting patiently for my short entry on the dow

PS, I was reading about what the top guys (and I mean the really big guns in the US) do when trying to offload a (large) position at a key price level such as this.

I think it was Paul Tudor Jones who said that he places orders to close half his position (let's imagine he's long Dow currently) well inside the key price level, say 20 pts, and then places order to close his other half on the other side of the price level.

The equivalent trade here would be to have a short inside 14198 and another on the other side at, say 14218 to catch a cheeky one.

Just thought I'd throw that in.

I'm sure there will be an almighty battle at this level, not least because it's only the Dow, not the S&P500 or FTSE) which is at its all time high. S&P bulls will be trying to keep the market going long IMHO. And let's not forget that most US index traders trade the S&P not the Dow.

I doubt it will be cut and dried but I wouldn't mind if it is lol!

Yep, updata has 14198.