DOW

This shows the next supports here, and 16025 area WS, is giving the heads up on.
This tested the 200 day ema twice today and failed, that was the clue to go short.
uk.advfn.com/p.php?pid=chartscreenshotsh...symbol=DJI%5EI%5CDJI

The last support @ 16345, has been broken (this has bounced of this level twice for a nice rally). So this was important, may get retested tomorrow.

Bearing in mind how quickly this is dropping, i think this could eventually go as low as the next major support 15250 area, if 16000 doesnt hold.
uk.advfn.com/p.php?pid=chartscreenshotsh...symbol=DJI%5EI%5CDJI

Regards,
Trendfriend.

...chat seemed to be dead until just before close WS, it's up now....well i can get in anyway.

Looks like we'll hit your 1869 tomorrow - could be possible double bottom on dow at 16270 area (for now anyway) and bounce before continuing down.

16052 big gun

16514* Super wavism* > 16485 > *373/1* > if it cant recover = 16052 area to watch... (312,240,191/174)

no break 495 > 514 on any bounce/rallies - no higher period.

cant access chat today ?

cheers WS...

The bears are in control here at the moment.
The main trendline (black in the chart) broken.
The 200 day ema broken.

Its not quite over for the bulls yet though.
we still have another trendline (blue in the chart), and this is also at the bottom of a falling channel (red) which could provide support. So two supports around the 16500 level.
This is the longer term chart.
uk.advfn.com/p.php?pid=chartscreenshotsh...symbol=DJI%5EI%5CDJI

For tomorrow, the important number to watch is 16500/16510 level imo.
uk.advfn.com/p.php?pid=chartscreenshotsh...symbol=DJI%5EI%5CDJI

If we open below 16500, go short. (wait for 16490 to go)
If we open above 16500, this is worth a long as i think at the very least we will test the 200 day ema @ 16591. Or maybe the main trendline @ around 16750 (rising daily).

So a small rise, to test the important levels that have been broken, followed by a bigger fall.
This takes no prisoners, so stops are a must, and must be moved up fairly quickly to protect capital.
This is best traded during market hours only, a lot of games out of hours with this imo.

At the very least this is worth keeping a eye on, as its dictates the whole market imo.
Good luck for the week ahead folks, ATB.
Trendfriend.

i do indeed, sorry typo. the 200 day @ 16591, is vital here.

Thanks charts

Hope you mean 16591 not 15591.