re: dow futures down 35 as i type from fri trading - good punting to all - I still hold XSP puts - 10,000 on the DOW will I feel sure prove 'interesting'.
The Dow opened today's session relatively stable, maintaining a tight consolidation pattern. However, despite the quite open, the index soon embarked upon a steady capitulation which resulted in the Dow closing near intraday lows.
As previously noted, this week's violation of the10,360 support level may be of great significances. Furthermore, the Dow has also violated a major trendline seen in the weekly and daily charts. As this trendline has remained intact for over two years, its violation suggests a pervading change in long term market technical may be forthcoming. These violations and the decisive manner in which they have been broken, opens the door for a profound bearish continuation below 10,000.
However, due to the magnitude of the recent decline, we could see a period of consolidation and/or upward retracement before the Dow continues its downward momentum.
http://signalwatch.com/markets/markets-dow.asp
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re: dow futures down 35 as i type from fri trading - good...
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