sumastardon

Dow Update - potential reverse head and shoulders pattern formin

TVC:DJI   Dow Jones Industrial Average Index
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The Dow continues to hold up well. A bullish reverse head and shoulders pattern is forming which if completed by a rise to neckline at 20750, followed by a 50 point rdecline and then another rally which breaks above the neckline at 20750, it should be worth following for rally back to 21090
Comment: Caution! Dow breakout level is 20753, not 20750 as previously stated.
So a 5 point break above here to 20758 should be used as trigger for next long trade.
If already long would suggest closing out as 20749 is tested and get ready to go long again from 50 points lower down and/or on an eventual break above 20758.
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