Technical forecast for Dow Jones

dow

Emini Dow Jones Sep13 just starting to break lower as we tested support at 15345/35 & spiked to 15305 before recovering. Failure to beat 15375 today keeps the market under pressure for 15345/35 then a retest of 15305. The outlook is quite negative so a break lower cannot be ruled out and could target 15260/55. If we continue lower perhaps later in the week we could test good support at 15170/65.

Above 15380 is less negative & could reach 15410/17. We should struggle here but if we continue higher look for resistance at 15451 with a selling opportunity at 15485. Exit longs & try shorts with stops above 15525.

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