DOW YearlyDOW trading in a range below the Yearly 2008 lows with the expectation that price will continue lower in 2009
S&P Yearly
Same expectation:- Price to remain below these lows in the 4th Quarter and then continue down into 2009 low.
DOW and S&P Monthly Futures
"October lows resistance (breakout forms resistance), and the trend guide for the 4th Quarter will be defined by the November 50% level.
Price will make it's way back towards the breakout of the 2008 lows late in this 4th Quarter or early in the first Quarter in 2009 and continue lower from 2009."
Previous Weekly report
At this stage the expectation remains that price will remain below October lows and then most likely move down into November's low:- Thrust pattern from the 50% level.
Once it reaches November lows, I'd begin to look for price to begin to make it's way slowly upwards :- retest the Yearly breakout lows (September's lows as shown above)
DOW 5-day pattern"In the Short-term:- Hedge funds will continue to play around with the same 5-day pattern each day....
Because if price remains below the October lows and closes below the October lows on the last day of this month, then there is an expectation that price will continue down into November lows" Previous Weekly Report
And I expect the same to continue for the next couple of weeks until the end of October....
Day traders:- Simply Trade the 5-day patterns of support/resistance
- Daily Trading Set-ups & Analysis
