Nice flag pattern forming today on the Dow Jones index. Looks to be price consolidation after the early morning sell off and I anticipate this selling could continue.
TP levels on the chart but really, if price drops down lower I think it could shock stock buyers in to taking profits and more larger downside to begin. Everyone knows fundamentals don't align with...
The week before last gave us a shooting star/doji. The following week resulted in a pull-back that has everyone scared.
For now, we held lower parallel support. However, I'm leaning on the prospect of more downside for now.
The markets are telling us something: there is clear concern over the mid-term elections. If Democrats win, I'm sure that would pour water...
In my previous post, I was short the DJIA, with the expectation of adding at down trending resistance. I did add, but was quickly stopped out.
Now price has broken ABOVE the resistance line, and I'm forced into a neutral position. This means I have no conviction either way, and any trades I take will be 1/3 of my full size.
I do not want to be one of these...
