A few days ago I mentioned a possible short opportunity on the Dow Jones. We have had a small move down of around 100 points or so, however I feel we might see a small bounce.
I wanted to let people know that I will be shorting the Dow Jones if we rally again to around the 21000 level. If we get there I will open a short position with the first target of 20725.
We have elected 3 Daily Reversals from the reaction low of Tuesday March 7th leaving us to watch 2097055 on a daily closing basis to signal a further advance ahead. Nevertheless, we did close bearish on our momentum indicator and bearish on the trend indicator.