octradr
Short

DOW LOST ITS BACKBONE

INDEX:DOWI   DOW Industrials
330 16 2
Notes are on the chart. Ask if you need clarification and/or let me know your thoughts.
Reached a major resistance point and the new trading zone is 15980 and the rising resistance blue line. Let's see if it can push through. 10/13 after close
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Closed out the week strong, again making new highs for this trading range. Overall outlook is bullish again. The only problem is the trading range is still a big range and it is currently at the top of it. 10/10
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Well... It looks like it's gonna be another down day tomorrow. 10/6 after close
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It is teasing the short-term support of 15980 but on the upside it did make a higher high the other day. Let's see if this short-term support holds this week. 9/29 after close
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It held the line today. hopefully the weekly close will show a turnaround like the daily does. 9/16 after close
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Tomorrow will be a pretty major day. We will soon see if the 16459 will hold for 2 days in a row. 9/15 after close
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It is peaking into hopeful territory once again. The very short-term trading range is 15979 to 16528. A close over 16528 will be even more hopeful, however, the weekly closes are far better tells than the daily swing trades. 9/8 after close
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16459 didn't hold and it is still below this level, even with today's strong finish. The weekly close will give us a better idea of what's going on but I have a feeling it will take a few weeks to get the big picture. I would still use extreme caution.
9/2 after close
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Stayed over 16459 for 2 days and developed a VERY strong hammer on the weekly chart. Still be cautious but the market may have found support. The new Major support is 15370 with the minor support being 16459. Hopefully it stays over the minor support. 8/28 after close
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Today we closed into the slight glimmer of hope category. Tomorrow is Friday and if it looks like it will close below 16459 I say GET OUT! 8/27 after close
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