WinnerTrader99
Short

$DJI Identical Bearish candlesticks pattern SHORT

DJCFD:DJI   Dow Jones Industrial Average Index
Bearish candlesticks pattern with negative divergence with RSI and overbought stochastic suggest decline to recent support at 27400 and may we can see bounce from there or further decline to 26400
Dec 02
Trade active:
In July and September the damned thing hung at top plateau for two weeks, 14-16 sessions. Don't be surprised if it just hangs until mid-December. I rolled my puts into February.
Yep, I'm looking for retest of first support at the breakout around 27300 +/- 100 pips sometime within next two weeks.
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WinnerTrader99 DaddySawbucks
@DaddySawbucks, Totally agreed .. i rolled them to mid Jan .. The point here is that as much as they hold overbought status , no Big investors will get in and they will wait for the right moments as it too risky for longs too.. thanks
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DaddySawbucks WinnerTrader99
@WinnerTrader99, Yes the funds are mostly out atm as we see volume has dropped to miniscule levels, this is retail suckers and some position rotation, funds always do 'window-dressing' and swap dogs for momo shares.
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