have a VERY CLEAR PATTERN in place
actually much easier to interpret
than the S+P
12/3 OPEN on Dow at 25813,
with the current overnight low at 25810,
...BROKE OUT EXACTLY AND FINITELY ABOVE..
THE MAJOR RESISTANCE DOWNTREND LINE
FROM THE ALL TIME HIGH of 26966 on OCT 3,2018,
CONNECTING THE SECONDARY HIGH of 26268 on NOV.8,2018.
Bold Printed Above for a Reason.
For those who believe as I do
that this is a BEAR MARKET RALLY,
IMMEDIATELY please add YMZ to your WATCHLIST on tradingview.com
SHOULD YMZ Dow Print a NEW LOW
BELOW 25810, ANYTIME GOING FORWARD
then this upside breakout could be TOAST...
and a FULL BLOWN REVERSAL..COULD BE UNDERWAY !
26000 YMZ LAST
12/3/18 825 AM
RENDERING A SHORT TERM SELL SIGNAL ON THE DOW,
PLACING DOW FUTURES BACK INTO THE PRIOR PATTERN
AND RAISING THE POSSIBILITY OF A REVERSAL TO THE DOWNSIDE.....
THAT I WROTE ABOUT THIS MORNING< PRIOR TO THE MARKET OPEN.
CONTINUE TO WATCH DOW FUTURES 28810, to see if they try to rally
back above that level by the close today.
A Close Below 25810 WOULD BE Extremely Bearish,
signifying that today's sharp breakout to the upside,
was actually a MAJOR BULL TRAP !
12/3/18 1110 AM
"Continue to watch 28810" in the above update was a Typo.
Thank you very much for sharing your insights, and information lapin_elliot
Please continue to comment when you feel you might have something to add.
It is greatly appreciated.