DJIA (DOW-US30): Patterns and structures

I'm still in a speculative short from 23585. Until today I wasn't sure what to do with it but now that I saw the pullback to 0.618 and reversal down again I'm starting to think this move will continue down for a decent pullback and some long awaited relief...

If you're not in don't sweat it. Watch these patterns for possible setups. The Gartley is too soon to tell but I put it on there anyway (in line with an ABC of wave 2 or B)...
If it breaks lower (possible H&S: setup on break and re-test of neckline...) we could have a big down move coming (zoom out for lower trendline and next support levels...).

Commentaire:

No breakout of H&S and the target for the Gartley has been vigurously surpassed (timing was off as a result) so no go on either of the shorts, we'll probably see new highs yet again... On the other hand december is coming up so we still could see some down movement at least towards the end of the year (2nd half of december).
Looking at this I suspect the eventual top will be a spike though and thus the top will probably be hard to catch... In any case I will still try to catch it...
Wait and see for now...

Ordre annulé

Commentaire:

Updated chart here: