DOW

Here is the updated 4 hr chart, played out perfect - 1st cnh target hit and note how it respected the channels - holding it and breaking out of the median line and testing the upper mid channel of ~14100, i expect dow to pullback to retest break area ( grey lines / nr median line) and go on to re-test the recent high and go higher....

all imo - dyr

dl.dropboxusercontent.com/u/40497882/Dow_06May_4hr.JPG

dow = 15100 approx .162ext of int i

1614/15 = approx dow 15000

spx 1614 key area break n close next stop upto 1625. if bust thorugh 25 then omg 1668 next up

1614 few fibbo's there.....

1 hour view... spot a few things...

dl.dropboxusercontent.com/u/40497882/dow_02%20may.JPG

These channels be important now....break up...then higher c in play, break down then lower c range in play

WaveSurfer wrote: tested the break out point and held on 1st touch ala inv h&S neckline / cup n handle rim, took it down close to the 50% lower fork ? will hold and break abv....60/65.....

nice bounce either way tho

tested the break out point and held on 1st touch ala inv h&S neckline / cup n handle rim, took it down close to the 50% lower fork ? will hold and break abv....60/65.....

nice bounce either way tho

This is producing a few doji.
For dow to go higher it must breakout above 14768 then look to take the high out soon after.Otherwise a risk of having a lower high.
Im looking to short this below a finish at 14665. This would suggest a move back down towards 14440 area.
So the levels to watch today are..
up above 14768
down below 14665



see how the trend line is now acting as resistance