Dow Jones continues to hold below 29600 resistance
Dow Jones holds below 29600 while NASDAQ and SPX500 print higher. This is a diverging scenario and a potential bearish turn should materialize soon. Dow Jones still holds the 5 Down - 3 Up Elliott Wave count valid with Waves (1) and potential (2) in place around 18200 and 28154 (spot) levels. If the proposed structure is correct, the indice should turn lower from current levels and push through 18200 mark in the next several weeks. A break below 26000 will confirm a reversal is underway.
Remain short, stop @ 29600, target is open.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Remain short, stop @ 29600, target is open.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
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