The DOW has been going up since 2009 and I don't see any GOOD reason why this should change.
If it closes below my dashed short-term line I would expect the market to go sideways for a while (like 6 months) before continuing up.
Long-term I would begin to worry if it actually gets below 14540.
That all being said I wouldn't hang on if it gets below the dashed support line because it could be a year before it makes its way back to 16600.
Now would be a good time to get into the market and set the stop 1% below the dashed support line.
Let me know what you think.
1/13 after close
Comments
octradr
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I hope the stops were tightened. 3/13
octradr
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The market recouperated rather quickly and is now getting close to its previous levels. It looks strong but interesting things happen when resistance is approaching. Now would be a good time to tighten stops. 3/10
octradr
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Down it goes. Where it stops nobody knows. 2/3
octradr
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Hopefully the 15750 level holds. 1/26
octradr
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It broke my short-term trend line yesterday and I would watch from the sidelines to see how this is going to play out. Maybe just quick daytrades but nothing for the long haul right now. 1/24