DOW

Nonfarm payroll is out today so markets might get a bit mad latter.

Im still waiting for the Christmas rally and the signal for this should be a close above the previous days high hopefully. If we get that then the highs should be targeted again.

As long as the dow stays above 15800 then a good chance of a rally still possible. This level was back tested the other day as this was where it broke out from and also where the 23.6fib level was of the recent peak to bottom. A finish below 15800 could signal a move down towards 15600 area.


dl.dropboxusercontent.com/u/4899609/dow6thdec.png


Only trade the dow if you are experienced otherwise you will lose a lot.

Marubozu White on the hourly dow. could this be a sign???? The bullishness will be void once the low of the marubozu gets taken out. Normal entry is half way down with stops below.


chartsview.co.uk/learning/Marubozu-White-Pattern.html
dl.dropboxusercontent.com/u/4899609/dow4thdec1.png

This bounced perfectly of 15884.. Now protect the winnings as the first attempt worked. Never good a second time..

The best level to go long now is at 15884. This is the back test of the channel top .
Ive got a 40 point stop loss attached to this during market hours only. Im hoping that the christmas rally will start once it touches this level. I still think that we are going to have a rally towards christmas as this year has been one of the best years in percentage terms rise .So for that reason i still think there is a rally to come.
I may have to re-think my ways if 15884 gets broken and it drops after that level.
That level is going to be important in my opinion


dl.dropboxusercontent.com/u/4899609/3rddec.png

Sorry, that was the chart from the day before. Here's last night's closing chart:



dl.dropboxusercontent.com/u/20815047/FTS...Dowdaily26_11_13.png

Quick update from yesterday's Dow cash chart:



dl.dropboxusercontent.com/u/20815047/FTS...Dowdaily25_11_13.png

I hadn't checked Monday's cash high which was 16109. The futures chart had already hit the 16125 resistance but cash caught up last night and dropped 60 pips pretty quickly off that level.

Just FYI.