We have been following the Dow for over a month now since the transport divergence. The breakdown of the dow continues. Expecting a bounce tomorrow before more blood.
Fairly simple trade again this time round! DOW had an unwarranted drop from the top of it's channel on seemingly no news, and had a healthy bounce at the bottom. This enough wasn't really enough for a trade, as we kept running into resistance around 63.80. Now that we're over it, I'm comfortable loading a position.
I'll be playing 65Cs and 67.5Cs expiring 8/20,...
Dow inc is pending for breakout as it has recently tested the 52 weeks high resistance. It is above EMA 20 and EMA 50 which shows sign of strength and is gearing up for a movement upwards.
Beautiful setup. The little H&S pattern could send us to the GZ.
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Typical head and shoulders pattern.
Bearish is set for a small amount of time, before we see the next rise.
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