DOW

358 next if broken....

WaveSurfer wrote: Dow 17443 n 430 watch...bulls will want to hold this area...if breaks..big dump

Rgds Ws. ..ready to rock n roll

Wavesurfer,

The 17443- 17430, does this have to finish / close below in dow open hours?

It went through earlier (futures) , held at 17400 ish then back up.

Wicks are not important when drawing major trendlines Ronmould. Use closing prices. They can be used for shadow/secondary lines.

F4T

Ronmould wrote: Food4Thought - don't understand how you've drawn your resistance - it clearly doesn't sit on top of the wicks of either the may or october highs?!

sorry for all the posts thats gone missing....had to reboot from old copy so all the latest post and settings were lost.
hopefully it wont happen again...fingers crossed

I'd put a post that's disappeared saying I was looking for DOW to pull back early this week around the 18000 mark (I actually expect it when the SPX hits resistance around 2095, what ever that equates to on DOW).

I originally thought it would be the start of a big bear market when it got there but we've got there so quick now i'm starting to wonder if it could just be a pull back.

For non chart reasons I think the market is going to push on until the referendum in June which will trigger the bear market (no matter what the result).

...if you look at the Scottish referendum, pretty much to the minute it became clear what the result would be the markets started to drop and went on to lose 10%, can only assume that was due to buy on rumour, sell on news.

The dow looks like its in a sideways market. These are always the hardest to trade.
Its been in this market since early 2014. This can help build strength to push higher?? The key now would be to wait for a clear break out of the range.It could go ether way. The range is 3000 points long so if it goes past 18350 then you can expect the dow to hit 21350 but if it goes below 15340 then you can expect this to drop to 12340. Simple.
I always keep it simple .

dl.dropboxusercontent.com/u/4899609/dow4thapril2016.png