DJI (6h) - Double top - and more.The trouble with double tops is that, you don't know where exactly price will go. Have a look.
All you can do is take a controlled loss (aka stop-loss). If you can't afford it, don't take it (obviously).
Today was exciting!! USTech was heading south, whilst price on other US stock indices went madly north. The news said, that this was a about rotation. (Read up on that). Well, I don't think so. It looked as if moms and pops traders took confidence in an early rise of USTech and moved madly north.
Tech continued to grind down after that bounce, checking the confidence of the gamblers.
There's potential trouble on the DAX where 'gamblers' went wooohooo towards 14000 ish. Then the big boys said hold on a sec!
Oops - hello there is trouble in the Bond markets. The FED is basically fighting against itself - trying to boost bonds and prop up stock indices in the US at the same time. Yellen made an announcement that inflation is not a problem - and the gamblers became ravenous. (You don't see that stuff on the 6H chart. Look into the 15 min time frame.)
In other events, officially US debt struck just over $28 Trillion. But the true figure not in the public domain is estimated to be around ~$128 Trillion. Like 'who cares' some say, 'The FED has our back'.
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