DOW

It's exactly the right sort of area for a bounce to form wave 2 of C too if the target area for the low of C is c. 14500ish

i see 5 waves down, 886 worth a long scalp/short cover here.. if you took one and good area to unleash some shorts, then more down after bounce

not crazy at all remo - makes perfect sense...

This is already down 230 points. The interesting bit is if this breaks past 14844 ,at that point this would be down 270 points. My point is if that level gets taken out then this could move a massive amount today. Even 500 points. I know it sounds crazy but remember quadruple witching is tomorrow so some people would be getting ready for that already. Thats probably whats driving this markets volatility currently???????. Normally the dow dont drop more than 300 points in a day.
I normally go long at a trend line and the nearest trend line is at 14577. If that level gets tested today then i will be going long with a 40 point stop. This will only be for today only and not tomorrow.
I wont be placing any trades tomorrow due to witching hours....Dont want to be burnt at the stake just yet Im no witch.


dl.dropboxusercontent.com/u/4899609/dow20thjune.png

update chart - no change in view, still expect lower lows as per previous post's.

dow @ key zone in futures market. 14975-54.

wave C




dl.dropboxusercontent.com/u/40497882/dow_20June.JPG

rgds WS

The level to watch on the dow for today are:
up above 15206
down below 14953


dl.dropboxusercontent.com/u/4899609/dow17thjune.png

If the dow can take out 15206 during market hours then it should head towards the 123 low breakout level at 15301. Once this is cleared then the up trend would resume and not before.
So the most important level to watch is 15300

S&P was the Daddy yesterday remo:



dl.dropboxusercontent.com/u/20815047/FTS...500daily13_06_13.gif

Perfect trendline play. I think we're in wave 3 of 5 of Primary 3 now. As you say, needs to break the lower highs to confirm.