DOW crashes through previous lows.. it’s going down!
We’ve seen the DOW propped by up support around 12400 for all of last week and when it broke today I had a short at 12360 which was trigger. It was looking well and at one point I was already 60 points up. Now the markets always seems to find support at big numbers so at 12300 it bounced.
I expected this but with a nice clean break to the downside, I didn’t think it would bounce that high. I had an initial 80 point stop which I moved down to entry when the market hit 12300 but then hit exactly before reversing.
So the market is where it is now and I’m out of my position. I’ve got a feeling that it’s going to go south and hard at some point but I’ve been stopped.. all I can do is to watch from the sidelines! Oh well!
