The sideways market looks to be coming to an end, with the odds heavily in favor of a sell off next week. S
mall gains on light volume in the past few days, the general trend of the market, as well as downwards trend line resistance coming up soon, all point to a drop.
Using the strong resistance at 54.40 as an entry point, first target is at $49.10, and the second around $46.50-$46.00.
Short trades will be executed through correlating prices in SDOW.
Conversely, if the market gains strength and can reach and hold above around $46.70, it would indicate a very strong market and a good chance for a partial recovery into the end of the year. This would be an area in which to take a long.
Just my opinions.
mall gains on light volume in the past few days, the general trend of the market, as well as downwards trend line resistance coming up soon, all point to a drop.
Using the strong resistance at 54.40 as an entry point, first target is at $49.10, and the second around $46.50-$46.00.
Short trades will be executed through correlating prices in SDOW.
Conversely, if the market gains strength and can reach and hold above around $46.70, it would indicate a very strong market and a good chance for a partial recovery into the end of the year. This would be an area in which to take a long.
Just my opinions.