Archive for the DOW Category
Well I took 50 points off the DOW today. I think it has much further to go and it already has moved 30 points beyond where I took profits but hey ho! There was some support at 14900 and you tend to get some support at these numbers so I figure it would be good to take some profit.
Looking at this daily chart though, it does look like it has further to go down.
Still, I also put on a binary bet that the DOW would go down today. Unless the market can get above 14975, I should have a nice
July 2, 2013
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Ok I've gone short on the DOW. I'm seeing a dowtrend in the daily charts.. it's a series of lower lows and lower highs. I believe that the market has just completely it's retrace from the downtrend and now going to make it's way down.
The blue line shows that there has been a resistance where price was contained, this is around 15080. I'm hoping price will head lower to 14650 or so where my target is.
July 1, 2013
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I played the Dow countertrend yesterday, the Dow had fallen heavily and I took this to be the start of the downtrend after weeks of bullish movement. I was expected to see a pullback from the bullish movement of the DOW and this was my signal for it. After the huge move down, there was an initial move up and this was what I took to be the pullback before lower prices. Unfortunately, I was wrong this time.. the DOW powered ahead.. it's shot up around 200 points and have broken the previous high!
February 27, 2013
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