Technical forecast for Dow Jones

Emini Dow Jones Sep13 in a 2 week down trend & hit our target & very strong support at 15050/35 for a buying opportunity & an end to this correction. We have bottomed exactly here in fact as we start to look oversold short term. A bounce from here is possible then up to 15150. Use this for profit taking on any longs & we can then try shorts up to 15180.

Look for a high for the day here but shorts need stops above 15215 for a selling opportunity at 15260/65. Exit longs & try shorts with stops above 15290 for a test of resistance at 15320/25. Longs at 15050/35 need stops below 15000. A break lower cannot be ruled out in this short term down trend and could target 14905/00. Exit shorts & try longs expecting a low for the day but be aware that there is further strong Fibonacci support at 14855.