DOW

Long @ 16940 here, as per below trade plan.

I'm going to go long @ 16937, if we get to that level,on a first attampt basis, we have two supports at this level, the 50 day, and support from the last drop to this price.
uk.advfn.com/p.php?pid=chartscreenshotsh...symbol=DJI%5EI%5CDJI

This shows the 50 day ema is important, as it does bounce quite often from here, and a fall below usaully results in a bigger fall on most occasions.

uk.advfn.com/p.php?pid=chartscreenshotsh...symbol=DJI%5EI%5CDJI

i will keep my stop tight, 15 points only, and move it up quickly

Regards,
trendfriend.

Just taken updata,so here is the p&f for DOW.

BW

number for dow today: how price react to this will guide whether this thing goes much much higher or is in the process of topping short term.

17038 > 17062 > 17072 not to be messed with, 17083 "bull / bear line" - should dow get abv 17083 and hold - short term target can be 17157


a breach of 17038 > 16962 and 921 for now. a break below 921 then watch out.

happy trading...

WS

This is looking very interesting, it also shows this is a good time, to be extra cautious, with any long and short positions ATM.

uk.advfn.com/p.php?pid=chartscreenshotsh...symbol=DJI%5EI%5CDJI

The dow is in a tight range, of about 150 points.
It looks like a bull flag, and could still break upwards, i still think it will, catching a lot of shorters napping.

However, we have a slight bearish div, and rsi on resistance, which are reversal signals.
While this is in the range, and with the 20 and 50 day providing support, i favour a move up.
However, it could also break down from here, and it has before, right? lets wait and see.
imho, enter trades with extra caution atm.

Regards,
trendfriend.

Having a looking at a chart of the Dow, don't normally trade the Dow, but i think i'm going to give it a go here.
Firstly this is in a nice uptrend channel.
uk.advfn.com/p.php?pid=chartscreenshotsh...symbol=DJI%5EI%5CDJI

A closer look at the current action, it looks like this is forming a bull flag formation, so building up strength for the next leg up quite possibly.
if it breaks up from the bull flag (which is what i think will happen).
We should see a move the size of the pole, so about 600 points approx, which would take us to the top of the channel.
A break below, could well see a move back to the bottom trendline, or at least a consolidation in the range of the channel.
You can see it better in this chart.
uk.advfn.com/p.php?pid=chartscreenshotsh...symbol=DJI%5EI%5CDJI
The numbers to watch are 17158 on the upside, and 16980 (ish) on the downside.
I intend to trade this, only if it breaks to the upside.
I may be miles off the mark here, as i don't normally do the Dow any comments would be welcome.
Best Regards,
Trendfriend.