DOW

This shows the next supports here, and 16025 area WS, is giving the heads up on.
This tested the 200 day ema twice today and failed, that was the clue to go short.
uk.advfn.com/p.php?pid=chartscreenshotsh...symbol=DJI%5EI%5CDJI

The last support @ 16345, has been broken (this has bounced of this level twice for a nice rally). So this was important, may get retested tomorrow.

Bearing in mind how quickly this is dropping, i think this could eventually go as low as the next major support 15250 area, if 16000 doesnt hold.
uk.advfn.com/p.php?pid=chartscreenshotsh...symbol=DJI%5EI%5CDJI

Regards,
Trendfriend.

Good chance of a 123 on 15 mins chart!


DYOR....

please delete duplicate posted in error.
Thank you.

The best level now to go long is 16000. This should bounce on first attempt so keep an eye on this.
This level has 2 supports converging, The medium term trend line and horizontal support so the patient traders will look to go long at this level on a first attempt trade with 40 points stop during market hours only.


dl.dropboxusercontent.com/u/4899609/dow14thoct2014.png

The bears are in control currently and since the 200 moving average broke with ease its likely to go lower.
There is a left shoulder already formed and the head and now all thats required is the right shoulder to signal a head and shoulders formation.So one to keep an eye on.

Nice hammer yesterday, Nazdaq down less, US smallcaps up.
I'll stick my neck out: IMO the rout is over. I expect markets to reverse this week or at least settle, maybe even today. It is finally time to buy stocks.

I dont think so, this am was a great short opp imho.

uk.advfn.com/p.php?pid=chartscreenshotsh...symbol=DJI%5EI%5CDJI

This has got loads to do.
WS, is also saying all system sell.

Be very carefull with longs imo. All suckers rallys ATM.

Short into strentgh for now, untill at the very least 16310 is cleared, or 16400+ tbh.

Regards,
Trendfriend.