The Dow reached as low as 17905 earlier in the day, but has since recovered somewhat to 18150.
Technically: The Dow is due for a large correction to the downside. There is strong divergence on the monthly chart towards 18500. The target would be the missed monthly pivot at 16300.
Fundamentally: US stocks are due ...
Market failed to sustain advance to test 16535 in low liquidity trading on Thursday and Friday proved very stagnant.
US CPI data confirms advance or head for another drop impulse which may activate above 16700 zone - as long as market holding trades above 16300 the chance for further advance ...
I am Very Bearish. It should reach 16100 easily and this is the area where possible BULL awaits.
Bear is a better for now. But always be careful.
Level to watch: Support 16100, 16000 and Resistance level 16500, 16700