DOW

Yep, I'd agree with that and have been short ftse" and Dow since the off today. Targeting the 38 fib from Nov lows but no lower than the wave 4 low of lesser degree so max lows of 6258 ftse, 13775 Dow and 1485 spx

Can somebody with cash market charts, Updata etc, not futures, please post the daily chart up ?

i'm seeing some discrepancies on the candlestick would like too see what updata or any other cash chart print has on it.

daily displaying a tweezer top formation ?

in the meantime DOW 14465 is the big number, no break no lower. as for correction i'd think the first target would be to look at the breakout point of 14200/156, confirmation of a break & day close of that then we 'll look to lower targets as J has mentioned below.

thanks in advance.

Here you go WS:



dl.dropbox.com/u/20815047/Dowdaily16_03_13.gif

Updata's been playing up again this am so no chance to look in more detail and the missus won't be happy if I spend more time working now, especially if I want to watch the England v Wales game with a few cold ones later on!

BTW, the SPX daily has a smaller "head" than the Dow and long "tail" which penetrated its equivalent short term uptrend hence my Q re hanging man. Not a tweezer top though. Another thing, you may want to look at the last 3/4 daily FTSE candles and compare with the March 2012 top.

Better go...have a good weekend all (will try and look for more detail tomorrow if I get chance)

Just as thought - you beauty !!!

cheers J

1. - wicks etc as per you below comment - dont matter, not that significant imo
2. 14 March candle long green body - check
3. 15march candle has short red body Check
4. 15march candle is is equal to previous day high - Check
5. inside price action - check

tentative conclusion until i get confirmation which is KEY is:
2 days in a row of equal highs signalling a resistance and formed at key pivots and fib clusters, along with a print of that type of candle formation. This could signal a short term top is forming.

Regards WS

WaveSurfer wrote: Just as thought - you beauty !!!

cheers J