DOW

Dow futures made a higher low just below the 61.8% Fib of yesterday's bounce last night. Could be confirmation of the end of wave 4?

Sorry no chart as in a bit of a hurry to get to school lol! (Makes me feel young(er) again!)

Looks like this to me:



dl.dropboxusercontent.com/u/20815047/FTS...Dowdaily24_06_13.gif

Nice trendline bounce from the wave 1 and 2 lows. Should be wave 5 of major 3 of primary 3 of cycle 1 now.

now dow can rip up needs to stay abv 680 & get abv 714 > 754

all longs now locked in

Banked some longs at 660

Kudos GC - closed all shorts and taken some long positions at 560.

still hold the view posted at the weekend, this royal flush does not suprise me.

like to see spx retake 1578. - dow apprx 680/710+ , if not the noriginal downside target remain 14550 - 14400

also +div 1hr remains

will post details later on.

WaveSurfer et al,

Really looks like the DOW will hit that 14500 area today at some point during the US session. Its broken through all noted supports above that, and I feel that is the next likely area from here.

I have reduced my target to this area (14500) from original 14350, as I also believe some resistance will be found here. By this point the pip count will be approx. 700, and I would rather take that profit now, than sit and ride out another correction, increasing the risk of the trade and my own sanity/frustration if it decided to turn against me.

I rode out this mornings calls for a bounce as I saw some weakness in the smaller timeframes, which is usually the opposite of what I would do, so feel like I have taken a step forward with this particular type of trade.

I will be watching the 14500 area with close attention though after I have sold (presuming it gets there).