INDEX:DOWI DOW Industrials
As noted on the chart $DOW industrial has bounced off from major support, the low of May this year, we closely monitored and expected a bounce and it indeed proved right regardless of the headline driven market. Trading is a tough business without a solid plan, its hard to win most of the time. The next hurdle for the Dow is going to be the 16,600 level where it tried to rebound and failed on August 4th. If we see that happen, expect a real short squeeze and may send the market back to ATH drama. The chance to fail is very high due to low we have seen in Friday. This is only for educational purpose and we don't recommend short or long. If you like it follow us for more to come.