DOW

dow- daily
uk.advfn.com/p.php?pid=chartscreenshotsh...z1nveVImQxHksSQj/EQ=

i don't see any technical reason to be short on indices imvho.....
From a fundamental perspective it does seem logical that as covid gets beaten the markets will head higher....usually led by the US.

just my thoughts....as always wdik...

atb, wdik, dyor,
trendfriend

After i got stopped out yesterday on a blind sided trade, i had to revisit some old techniques and went back to Remo's classic lessons

Anyway, to cut to the story short, I looked at all the chart set ups and found the 4 hour chart that seems to be respecting the trend lines and and forming an ascending triangle pointing to 30k

Chart attached - with the markers of how i put my thoughts together (the grey box of where I thought was a value punt).

My short got closed out so no doubt the trend will be down now

..on a serious note whilst there are positive indicators on the charts news wise I don't see there is any good news left to come out, I also imagine the US is on the brink of a couple of pretty horrendous months covid wise. Logically this would drag the markets down but then when do the markets act logically!

I want to go short again but feel like i'm chasing and too freshly burnt to make decisions I trust so sitting on the sidelines for a bit.

Forgot to add my most important point - I am struggling to understand what the trend is ...

Some very interesting moves going on the Dow. It’s retesting support, and got to the 30k mark again today. So loads of testing at the moment . Whip saw to be honest!!

waverider2 wrote: Very interesting Trendfriend. There is a high possibility of break out and then you wonder where it will stop. The other thinking is that the big move recently could reverse to form the wide side way move. We will see

Great Charts (as usual) TrendFriend.

Waverider's view is why it's now even more (surely not!) important to be nimble or stay on the sidelines - where I'm gonna be for now.

After that Dow spike caught me out, I've gone back to trading Nasdaq, Russell, FTSE and S&P, just restore some account credibility.

The Dow I think, is going to be the index tracked in my SIPP and ISAs for the long term. Intraday trading it is like russian roulette!