By now the chat rooms are buzzing with the potential of a head-and-shoulders top in the DJI. In any top one or more indices will make a H&S. The problem is that the market routinely trades below the neckline by 1/4% only to make a violent rally. Suck 'em in and spit 'em out.
Key support for DJI is 10,540 and the XMI is 1163. There has already been 1 headfake when the DJI got down to 10,527.
I will not add to short positions until S&P breaks 1135.80. This level will go up slowly throughout the day.
Silver 90-minute close beneath 1 tick beneath our 17.03 flash point. This is not convincing, so holding off for another lower 90-minute close.
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