DOW

Pretty bearish finish & candlestick today. On phone so no chart.

The daily shows a perfect trendline bounce yesterday.....so the bulls fighting back. (for now anyway)


The weekly here shows the dow is actually in a triangle atm.... and the breakout up or down will happen anytime soon imho...
I think it's going to move down....but you cannot decide....must wait for the dow and the chart to tell us...
This needs to break above the moving ave's and break up from that triangle, and onto new highs imho....if it fails to do so, just a matter of time before a massive dump...

Lets see what Aunt Janet over at the fed does, she usually saves the day....lol
In the meantime cautious traders (and wise ones) maybe should wait and hold tight, and stay on sidelines, to get some direction from the Dow...for positions on both stock and indices...jmho
Regards,
Trendfriend.

Possible 123 high formation.
This broke the 200ema on friday and now approaching the short term trendline which is also near the 123 high breakout point.If this breaks then this could really send the dow lower so caution should be advised.
Ive noticed loads of supports get broken last week on shares and nearly all of them have tumbled.I had a bad week of trades last week due to all my stops activating.
Be safe


dl.dropboxusercontent.com/u/4899609/dow13thdecember2015.png

Careful folks..... A real warning here....

The pre market price currently is bang on that trend line. So this trade will be only placed by me after the first thirty minutes of trade. If the price goes above that before then i wont place the trade.

You have to be fast with dow , The dow is good for day trades so have to be flexible to trade this.
Im gonna short the dow on the next back test of the previous uptrend line. Again using 40 points stop on a first attempt basis.


dl.dropboxusercontent.com/u/4899609/dow23rdoct2015.png