The longer term shows a clear downward trend. Price was unable to Breakout 0.87ish area & broke down 200dma (best benchmark). Yesterday a kangaroo tail formed near 200dma resistance. This is a great Low Risk Entry Point for a short swing position. Risk-Rewaed Ratio is the best it can be. If 200dma is violated and price cleses above I would consider a Long Position
After not so good EPS and after-hours lower trading+Big Kangaroo tail (inverted hammer) near resistance making a potential double top+MACD debilitating, I think this is a nice short/covered-call/long put trade. Risk:Reward is good. I'd put my first target near classic 50DMA and take it from there.
I don't know if this is going to be a meer correction or a ...
RSI is above 70 (because this is a heavy index RSI usually stay in between 30 -70)+Kangaroo tail w/big wick after 10.5% advance+MACD near crossover. This price action tells me we might see some sort of correction to 17.340 level. This is by no means a "SHORT INDEXES" trade. Just a minor throwback before Dow Jones continues to climb higher