DJI has had a nice upward retracement to the 50% fib level at 23800. Could retrace further to the next fib lvl at 25200. Enter short between those. I dont think the DOW can exceed the 50% fib level, as that is seen in many markets. 200 weekly MA is at 23700. A weekly close (today) below 23600 would be bearish, since we then have a red weekly candly penetrating 23300 would be really bearish canceling its uptrend since the 18k low. breaking this overhead resitence @ 24100 would be bullish and i would be most likely close the short somewhere above it, and reasses.
Trade closed: stop reached
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Looks like it is using these levels more as a trampoline. Closing strong with the weekly candle, above the 200 weekly MA, above fib level, above support level. I would suspect the markets rallies higher, but a V-shaped recovery is a far stretch. Wait for more bullishness in the MSM as a contrarian indicator and at least falling below its orange uptrend, For going short if you want confirmation.