On the daily Dow chart most everything is still showing a bottoming process. The only item that isn't is the Green Price indicator that measures the intermediate trend. Today we had an 85% up volume day with moderate money inflows. Volume was light considering the price move. I will be looking to short this rally
if the conditions are right when the Dow is in a range of 8,500 to 8,750.
Picture of the hourly Dow chart shows maybe a little more room to move up over the next few days based on the green indicator. This might not happen but this is what the indicator is showing.
I just want to point out on the weekly chart ... note the primary weekly trend is down. Things can change ... I just wanted to remind everyone.
On the daily Dow chart most everything is still showing a bottoming process. The only item that isn't is the Green Price indicator that measures the intermediate trend. Today we had an 85% up volume day with moderate money inflows. Volume was light considering the price move. I will be looking to short this rally if the conditions are right when the Dow is in a range of 8,500 to 8,750.
Picture of the hourly Dow chart shows maybe a little more room to move up over the next few days based on the green indicator. This might not happen but this is what the indicator is showing.
I just want to point out on the weekly chart ... note the primary weekly trend is down. Things can change ... I just wanted to remind everyone.
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