The count on the DJ futures hourly chart posted at the pre-open still stands. S5 is complete. The 220-dayM/A has 140 point leeway and the 56-day has 100-point leeway as seen in this cash DJI chart:
At what point in the DJI do you feel support has been broken and a longer term short position would be good. With I1 still rising until 7/21 and then again from 8/1 till 8/15 but not on a buy signal this time period in I1 seems to be a difficult place to trade for longer term traders.
Steve
ReplyDeleteAt what point in the DJI do you feel support has been broken and a longer term short position would be good. With I1 still rising until 7/21 and then again from 8/1 till 8/15 but not on a buy signal this time period in I1 seems to be a difficult place to trade for longer term traders.
Jack C
DJI breaking 5-minute, 380-unit M/A by more than 1.25% would indicate the end of this uptrend. I1 is still rising so I don't believe this will happen.
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