DOW

Thanks for sharing that WS.

I've got a slightly alternative count for your more bullish scenario:



dl.dropboxusercontent.com/u/20815047/FTS...owweekly29_12_13.png

Only difference is how I've interpreted the recent sideways waves but very similar nonetheless.

I came to this count having completely started from scratch by looking at the monthly chart after quite a while of not reviewing counts at all so it's as objective as I can be. My alt count is your primary one so caution suggests follow that for now and see where we go.

The 100% extension of Primary I comes in at 16795 but SPX smashed that recently (1778) and the successful backtest of it caused last week's massive candle.

Incidentally (and I don't think this will actually happen but you never know!), the 161.8% extension of Primary I comes in at 20769....

Happy New Year everyone!

Your welcome, this my favourite index and u know how I trade this daily, both ways. This my bread n butter and hardly trade stock but a few. I have no doubt whatsoever we will see the targets, even ftse abv 6648 is extremely bullis, 7000 is not out of the question.

What I look forward to most, is the top callers coming in with abc bs from lows. Building a top is process, bottoms are an event, 2014-2016 im will be a top building process, a bit like playing jenga. The higher u build the blocks the more caution u apply...

Short term Dow can push up some more but a pullback is imminent and one that will be bought for a parabola move up, this move witness so far is only the beginning....16200 area is key to watch.

Extremely excited for 2014, and will be switching hats from bull to bear short term... Perhaps the mantra will be sell equities n buy gold short term. Bond 30 year t bills look juicy too. More of this when time is right.

All the best ws

Dow yearly updated chart, perfecto !




dl.dropboxusercontent.com/u/40497882/Dow%20Yearly13.JPG


WS

Those who regularly frequent the chatroom will know that Wavesurfer is the master of this index (and remo, obviously!) but I think it's worth looking out for a break of the short term resistance of the flag during market hours on Monday which will be at the 16540 level.

Note that there was also an inside bar on Friday and that would suggest upside above 16525 and downside below 16379 (which was also the 23.6% Fib which comes into play a lot on this):



dl.dropboxusercontent.com/u/20815047/FTS...Dowdaily12_01_14.png

Remember your stops.

Just a quick take on "buying the DOW dips".

If it plays out, I'd consider entering at 16,174.51.




(just don't hold on for too long as a counter retail trade could be on its way!)

Wishing all CV patrons all the best!

Can someone please post an hourly cash chart (not futures) of Dow from the 240 recent low?

TIA.