DOW

uk.advfn.com/p.php?pid=chartscreenshotsh...symbol=DJI%5EI%5CDJI
Look out for 15591, the 200 day on the Dow. should the next support.

This had held the 200 day(bar some bear trap some small breakdowns) for a long time.
uk.advfn.com/p.php?pid=chartscreenshotsh...symbol=DJI%5EI%5CDJI

If that level breaks down, and we spend 4/5 days below it, i think i'm right in saying the whole market is due a big coreection imho, and we should all turn into big grizzly Bears!
Regards,
Trendfriend.

Hope you mean 16591 not 15591.

i do indeed, sorry typo. the 200 day @ 16591, is vital here.

Thanks charts

The bears are in control here at the moment.
The main trendline (black in the chart) broken.
The 200 day ema broken.

Its not quite over for the bulls yet though.
we still have another trendline (blue in the chart), and this is also at the bottom of a falling channel (red) which could provide support. So two supports around the 16500 level.
This is the longer term chart.
uk.advfn.com/p.php?pid=chartscreenshotsh...symbol=DJI%5EI%5CDJI

For tomorrow, the important number to watch is 16500/16510 level imo.
uk.advfn.com/p.php?pid=chartscreenshotsh...symbol=DJI%5EI%5CDJI

If we open below 16500, go short. (wait for 16490 to go)
If we open above 16500, this is worth a long as i think at the very least we will test the 200 day ema @ 16591. Or maybe the main trendline @ around 16750 (rising daily).

So a small rise, to test the important levels that have been broken, followed by a bigger fall.
This takes no prisoners, so stops are a must, and must be moved up fairly quickly to protect capital.
This is best traded during market hours only, a lot of games out of hours with this imo.

At the very least this is worth keeping a eye on, as its dictates the whole market imo.
Good luck for the week ahead folks, ATB.
Trendfriend.

16052 big gun

16514* Super wavism* > 16485 > *373/1* > if it cant recover = 16052 area to watch... (312,240,191/174)

no break 495 > 514 on any bounce/rallies - no higher period.

cant access chat today ?

cheers WS...

...chat seemed to be dead until just before close WS, it's up now....well i can get in anyway.

Looks like we'll hit your 1869 tomorrow - could be possible double bottom on dow at 16270 area (for now anyway) and bounce before continuing down.