Saturday, January 21, 2017

YM Review

For quite some time, the Dow has been steadily sinking further away from it's failed attempt at reach the 20,000 level and recently tested contract low areas.

We are in key support/resistance levels in the Dow and closeup examination shows signs of possible rotation to the sinking trend and perhaps another 1.5% assault on the 20,000 level else the possibilities of a near 3% drop to the next lower level of support, not unheard of...

The short entry would occur monitoring for round top breakouts.

The long entry would occur after a break out long with retest.

To be continued...