DOW

Nice hammer on the dow...This is on the weekly chart


dl.dropboxusercontent.com/u/4899609/dow10thfeb2014.png
If the price comes down halfway down the hammer worth a long with stops below. Less risk this way..
some may buy on the breach of the hammer high but more risk this way. Both ways require the stop to be below the hammer..

Possible short for the short term trade.
16070 is where my short is on a first attempt trade for today only.
by the end of today(9PM) my order will be cancelled as to risky to leave this over night.
for tomorrow ill have to re-evaluate .


dl.dropboxusercontent.com/u/4899609/dow11thfeb2014.png

Remo, I noticed that you have ran your fib retracement from the Jan 21st high and not the higher high on the 31st Dec, does that mean you always run it from the breakdown area.

Relentless rally ?

rocketship in the making imo, Dow still has got quite a bit of work to do but it is in the process of generating a spectacular Buy signal if you think this move up was strong, then watch ...as discussed on chat

No sell as of close on Friday but is weaker than spx, nas etc and 1st tier buy remains which means any pullbacks to be bought, short terms i'm expecting a pullback once this move is complete, 16240 area is to watch short term, a move abv then the a test of Dow highs to follow.

Bull case look strong imo rather than this being a B wave up, impulsive 5 waves up i see, however next pullback will define it.

Submarine stays until path clears up but im close to losing it


in the meantime - what the fork, it's back in




dl.dropboxusercontent.com/u/40497882/Wal...%28DFB%29_weekly.png


all imho - dyor

Regards WS

Price is King

WS, I gotta say I agree with everything you say - well, the bits in English anyway Some of the stuff, "Submarine stays until path clears up but im close to losing it " is in another tongue

My chart shows resistance on the current move at 16,242 and subsequent support at 16,028.


dl.dropboxusercontent.com/u/7238706/DOWdaily.png

As far as I am concerned this is wave i of 5 and impulsive, and shows no sign of ending until well into 18,500's and will then probably extend further.

the submarine is my avatar it was replaced by the rocket on Jan 06 to advise caution on the indices on the long side, signalling danger, along with this alert on chat:

:evil:

we all know what happened thereafter....

i will be replacing the submarine avatar with a rocket in the making soon once i have all the confirmation i need, no confirmation no rocket. in fact this is what i have had behind closed door for a few weeks now:




dow 15340 was a good price


hope that clears it up.

cheers

WS

Price is King