1 Hour Dow 6 to 1 Sell Set up (600 Point Target)
Now that the 200sma is starting to roll over after we had the three push pattern higher AND the false break reversal on Friday, I am looking for a meandering back up into the supply zone for a sell. My only concern is that I don't know what CPI will do. Will it spike up to hit that magical 39,000 number for another false reversal or will it spike down?
The 1 Hour 21ema is pointing down and at a slight angle away which tells me a pullback into the 200sma and a bounce.
Steep 21ema = trend
Rounding 21ema = pullback
What ever CPI decides to do, I am still Bearish as this is the top of this entire rally. The 3 push pattern at a top has each high just marginally higher than the last high and the 3rd push high was a peek a boo false break reversal.
I believe Dow Jones is the leader in that it is peaking first before Nasdaq and S&P. The S&P is still bullish.
The Dow's first rally off of the October Lows was really powerful compared to S&P's piddling attempt.
The 1 Hour 21ema is pointing down and at a slight angle away which tells me a pullback into the 200sma and a bounce.
Steep 21ema = trend
Rounding 21ema = pullback
What ever CPI decides to do, I am still Bearish as this is the top of this entire rally. The 3 push pattern at a top has each high just marginally higher than the last high and the 3rd push high was a peek a boo false break reversal.
I believe Dow Jones is the leader in that it is peaking first before Nasdaq and S&P. The S&P is still bullish.
The Dow's first rally off of the October Lows was really powerful compared to S&P's piddling attempt.
