day ranking seasonally as the worst day in April
, and May approaching (May-June are seasonally horrible), together with some good selling at the upper (light blue in the chart) median line
resistance, this is therefore the initiation of a short trade in the Dow. First Profit target is the monthly pivot
line, second one the median line
of the mid-term pitchfork
. If this starts rolling, we could see prices of 16800 or - if some real panic starts - even 15200 throughout the course of summer.
Stops go to break-even at the first profit target(17870)