It is getting scarier to long DJI as it continues to go higher and higher.
That of course is the perils of buying high and hoping it gets higher.
In contrast with the VIX, it could breaks out from the red diagonal bearish trend line and edge higher or continue to head south towards the support level of 10.72.
That would correspond an opposite direction for the DJI.
For those who are already long this index, continue to hold, take partial profits if you wish and adjust your SL accordingly.
For those who are yet to get in, manage your expectations since you are late to the party.
Trade safely and have fun at the party !
That of course is the perils of buying high and hoping it gets higher.
In contrast with the VIX, it could breaks out from the red diagonal bearish trend line and edge higher or continue to head south towards the support level of 10.72.
That would correspond an opposite direction for the DJI.
For those who are already long this index, continue to hold, take partial profits if you wish and adjust your SL accordingly.
For those who are yet to get in, manage your expectations since you are late to the party.
Trade safely and have fun at the party !
Wait patiently, I see some support at 27253 or it can rebound much earlier. 27566 seems like a minor support to me. Let's see how it turns out tonight.