Technical forecast for Dow Jones

dow1

Emini Dow Jones Sep13 retested 15305 but bottomed just below at 15290. We have since shot higher to resistance at 15410/17. If we continue higher today look for resistance at 15440/50. Watch for sellers here & a high for the day possible. However a break higher offers a selling opportunity at 15475/80 with stops above 15500.

Immediate support is 15360/45 but below here risks a slide to yesterday’s low at 15305/15290. A break lower today 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.

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