DOW

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.

This was a perfect trade.
This should be a free trade now.


dl.dropboxusercontent.com/u/4899609/dow10thjuly2014.png

Possible long from first attempt of short term trendline at 16822. Im using 40 points stop.


dl.dropboxusercontent.com/u/4899609/dow9thjuly2014.png

Presently cuddling the hourly trend line of the past 3 three weeks. Where next?? Bounce off the trend and support lines or diving to the next support???

The charts are in the order of hourly, 4 hourly, daily and weekly.