I mentioned a H&S pattern on the DOW short term charts and put a target of 12,300 for last night, the DOW bottomed at 12,996 and turned around from that level.
On a very micro level, the DOW looks to be good for a rally back to around 12,406 where the FIB 50% has been drawn in.
Dow 5 min -
What we could see today, is a positive futures lead from DOW/SPX helping our market cushion it's fall today. Having said that, even with a decent tail on the candle last night, I think the DOW tonight will be down again (either to test 12,300 or break it).
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Last
8,589.3 |
Change
-13.700(0.16%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,603.0 | 8,617.0 | 8,572.1 |
| XJO (ASX) Chart |