DOW

Hi Everyone, Happy New Year.

A 123 scenario is likely in the short term as per the 1 hour chart. The 16591 level appears key and also coincide with 23.6 fib retracement. A break of this level should take us up alternatively more downside !
DYOR
Good luck

Updated detailed chart - dyor...
GL

Hourly chart below.
Looks suspiciously like a bear flag to me, and its on the verge of breaking down
Going be nasty when it does!

The chart suggests downtrend - bear market. where next????

Dow looks like its in this channel on the hourly chart.
I'm looking to short on the top of the channel @ 16280.(if it gets to that level, trading hours only) with 30 point stop.

Regards,
Trendfriend

I've had a cheeky long today, based on SPX hitting support from oct14/aug15 lows.