Technical Forecast for Dow Jones
Emini Dow Jones Sep13 topped around 15404/09 & as expected broke 15305/15290 to the downside & hit the target of 15260/55 to bottom exactly here. We are in a 2 week down trend & should stick with this trend. A break lower sees 15233 then tests good support at 15170/65. We should look oversold short term at this stage so watch for a bounce from here as the longer term trend is still bullish. Exit shorts & try longs with stops below 15115. A break lower should then target very strong support at 15050/35 for a buying opportunity & an end to this correction.
Immediate resistance at 15309 but above here a selling opportunity at 15335/45 with a high for the day expected. However shorts need stops above 15370 for 15390. Exit longs up to here & try shorts with stops above 15430.
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