DOW

Hi Ron, hope your well.

Well this really is a nasty day.....you did well to catch winning long trade!!

Any predictions where the final low will be on the dow folks??
I think eventually a move down to 10500 area is possible imho.... possibly 12000 area ....maybe soemwhere between the two numbers??
Some way to go for this down move that's for sure

Lets see,
Trendfriend.

Hey TF - was only small long at 15654, stop already moved up so no worries now.

Will continue to move stop up but I fancy the chance of a break out of the channel now. worst come to worst it's paid for a pub lunch tomorrow anyway

This is still in this channel....until it can can break above its going to keep going down imho...
16280 top of trendline hit yesterday and 15640 down trendline today. so bounce now possible...best case for bounce 15900/15950 area.(falling every 60 mins)
scalp longs ok, but could be small bounces, off the down trendline.

Best place to trade imho is short from the top of the trendline imho..
Regards,
Trendfriend.

I've had a cheeky long today, based on SPX hitting support from oct14/aug15 lows.

Dow looks like its in this channel on the hourly chart.
I'm looking to short on the top of the channel @ 16280.(if it gets to that level, trading hours only) with 30 point stop.

Regards,
Trendfriend

The chart suggests downtrend - bear market. where next????