DOW, which way will it go now?
Short the DOW too early and your head will be handed to you on a platter. Right now, the DOW looks to be distributing at the top. However, a break will see it head to 20100+ and a push higher will see DOW to even loftier levels. A move lower will see it testing 19700+ level. A failure will see it go to 19300+ at least. So which way will it go? Well, let's wait for price to show its hand. It should be real soon if the trendlines on this chart is drawn correctly.
Note
The Dow hit the orange trendline support and rebounded. Will be zooming in on 4hourly chart for an opportunity to go short on the market next week. This is provided that 19952 is not exceeded. If that happens, view will switch to go long with target of 20200 which is the trendline resistance.Note
Trendline resistance in blue (add on to previous comment).Note
Dow long did not take place as I missed the trade. Short trade also did not occur as orange trend line held. Now Dow is set to hit 20200.Note
Long Dow, stop 19870. Target 20200.
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