DOW

Dow daily.
Why do i think that's a bear flag??
Watch 16020 bottom of flag....
Regards,
Trendfriend

This charts a bit crap( ok more than a bit!!)
I wanted to show the rounded top, so ignore the bottom of that circle, just see the top part please!
I now think this will eventually make it's way up to the circle before a final dump.
Weekly chart so will take some time to get there, and market will be volatile, but should hit that the rounded top around about where that re arrow is... around 17000 level.
JMHO,
Trendfriend.

if 15370 gets taken out then watch the market really drop hard.Still around 600 points from that area.
Im out of shares for the time being. Have been for a while.I only have been doing short term trades. Its best to wait for a proper 123 low formation before getting new shares.
short term on the dow , if it goes below 15880 today then it should head lower towards 15370.

dl.dropboxusercontent.com/u/4899609/dow28thjan2016.png

Just a quick look here.
This did finally break out of the the bearish channel, expected a substantial bear market rally, but it did not happen so far anyway.
Which leaves me thinking we have a bear flag developing on the hourly.
This looks worth a trade to me, if the flag breaks down, @ 15750... (rising hourly)
This level could well hold, maybe just a pullback to retest the channel.
Failure to hold could well be the start of the next leg down, and would be the signal to short imho...
Wait for flag to breakdown @15750(rising hourly), and then short with tight stops above the flag trendline.
Lets see it plays out today....
Regards,
Trendfriend.

having some fun the Dow atm....
still in this bearish channel failed @ 16040
Until it breaks above the overhead trendline 15375 next?!?!
Regards,
Trendfriend

Hey - got closed out for my pub lunch but went back in when went back over 16650 so got myself another one for Friday at least

I was looking at 14000 area as a possible bottom if it kept going (not today, long term obviously)...i still fancy today as a turning point though!