DOW

The dow has rallied hard today. Theres a 123 formation on the dow forming and once it breaks above 15305 then it could mean the highs being taken out again.So the main area to watch is 15305 for the breakout.
Early signal will come once 15241 gets taken out.

So up above 15241
down below 14953


dl.dropboxusercontent.com/u/4899609/dow13thjune.png

bang bang

may get a bounce then look for yellow highlighted areas 110-157-187 zone....more down to come imo.

short the bounces/rallies.

spx 1414 under pressure...

Wave C.


dl.dropboxusercontent.com/u/40497882/dow_channel_Jun12.JPG





rgds WS

bottom number hit 110/80

WaveSurfer wrote: any move abv yesterdays high (tagged the top end of the channel and broke down) then this wave will start to look impulsive...a break down below 187>157 > *15110/80* > 15030 then almost certain wave B completed at the recent highs... should 15157/110 area hold and bounce then that will setup the right shoulder.... key level.

should the inv H&S form and play out then target is approx 15500+

assuming wave B = 15300 close to 61.8% retracement from lows.
on WAVE A = WAVE C = 14600

dl.dropboxusercontent.com/u/40497882/dow_channel_Jun11.JPG

rgds WS

not always, just find the 4hour useful for swings and detecting signs of possible reversals...filter out noise seen on smaller time frames, also been trading this channel on the 4hr for quite some time now and it's served me well - morph through all timeframes generally... ... in the meantime a 15110 just hit in futures - be interesting the types of candle form at this level in various time frames....... cheers WS

Traderme wrote: Wave Surfer, why do you always base your wave projections on the 4 hr charts?
Thanks.

Wave Surfer, why do you always base your wave projections on the 4 hr charts?
Thanks.

Futures just hit the channel support:



dl.dropboxusercontent.com/u/20815047/Dowchannel.png

Bull flag?