Last 11 trading session the Dow jones and DIA has been the most predictable as far as direction. Trade up to resistance , reject back to 50sma ; bounce and repeat .
The consolidation in this white pennant has been humongous! If we break to the upside 36k is not out of the question.
If we break to the downside , the selling will be epic because of the major double top showing .
Health care, Energy and Financials have the most influence on the Dow
We're going into Monday with resistance at 34,260. Support 50sma (Purple wave)
If the 50sma support breaks then we head back to 33,300 or white trendline support.
The consolidation in this white pennant has been humongous! If we break to the upside 36k is not out of the question.
If we break to the downside , the selling will be epic because of the major double top showing .
Health care, Energy and Financials have the most influence on the Dow
We're going into Monday with resistance at 34,260. Support 50sma (Purple wave)
If the 50sma support breaks then we head back to 33,300 or white trendline support.
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