octradr

The market is changing pace

DJ:DJI   Dow Jones Industrial Average Index
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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.
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