28 Dec Update to DOW Day Trading Map 28th Dec 2011
Update to last night’s DOW trading map.
4 hourly produced a bearish engulfing from my 12,322 line so the line definitely has validity. The 50 MA and 100 MA both reside at support and this is an area to keep an eye on if the selling continues:
Alternatively for the 15 min projected channels detailed last night, none came to fruition and I’m currently looking at this possible scenario as an area to hedge shorts with longs running tight stops or to switch from short to long: