It looks like the long uptrend of the DOW has come to a major stop. It may stabilize between 14600 and 15340 but it may take back a substantial amount of its gains possibly down to 13682. If it gets closer to the 15340 mark I would go short on this market. I would currently limit my losses and move my investments into more stable markets. If resistance is broke with authority I would expect a continuation of the trend up. Another thing to note is the 50 day EMA. It has been a very strong support since the beginning of the year. Let me know what you think. Happy trading.
Comments
octradr
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This market needs to close above 15700 for it to continue high. I would say back down to 14834 zone. 11/4
octradr
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This is one strong market. 11/14
octradr
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Interesting to see how my support and resistance lines held up over the long haul. Upper resistant line was about 2% off but the 1st fib line worked pretty well. It looks like it may go back down to that 14834 level. Let's see. 9/30/13
octradr
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Well, it broke resistance pretty good. It didn't have the volume that I would have liked, but the bulls are pushing none the less. I would wait 1 or 2 more days to make a move.