The Dow Jones is an interesting chart. When you take a look you will notice that we have broken a major trendline that has been intact for many months, and now we are getting close to another major support line at about the 14400 level.
The break of the trend is significant for several reasons yesterday we put out a MAJOR UPDATE to our VIP SUBSCRIBERS - Download it here!
Have we seen a top at the 14800 level. Well, it is probably a little to early to put a definite yes on that at present.
However, you will notice that the break of 14600 was significant and a break of 14400 will probably not be good. The US dollar looks very strong at the moment, and sentiment trader always says the news comes out in the charts first, so maybe we are about to see some not so good earnings and reports come out in the coming weeks?
Anyway, right now I think it is important to watch that lower support level sitting at 14400, that will be key in my book.
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| dow jones projections |
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