Personally I believe the markets have gone sideways long enough now and the next down swing should be coming any minute.
But tonight I can not provide any clear guidance, it could get into the mid 10500's or just fall away creating a partial high on a minor bounce.
What I will be most interested to see is what effect the high volume on Friday will do..... Its last rally into exactly the same area was on much lower volume, which was a 170pt rally as well. Does the increase in volume shows resistance is strengthening or does it show more commitment by buyers? Obviously to have increased volume you had to have an increase in selling to....
Anyways I am short to the hilt, stops are 10570, stiff if they get taken out, should the market plonk to 10,000 at least I made another small fortune.
DOW Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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