Technical forecast for Dow Jones

dow

Mini Dow beat resistance at 14690/700 then failed just below all time highs at 14800/823. We are overbought in the short term now so watch for a move below 14730/10 to target 14659. Below here then risks a test of the next support at 14608 which could hold the downside today. We need stops on longs below 14595 for a slide to 14568/57 & a buying opportunity here.

Resistance now at 14786/14823 all time highs but a break higher could target 14861 then 14935/55.

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason always had an interest in technical analysis throughout his trading career but began to study this area in depth from 2006. www.daytradeideas.com has established itself as the leading provider of... More