Technical forecast for Dow Jones

dow3

Emini Dow Jones Sep13 made it to 15419 as we look overbought now short term & on the daily chart. We could hit profit taking at any time therefore & test support at 15295 then 15220/200 which could hold any profit taking at this stage.

If however we continue higher again there is little in the way of a retest of 15508/23 all time highs. Be aware that failure to sustain a break above this level now leaves a bearish double top in place & could trigger selling pressure in to the end of this month.

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