ZLBT Chats

Wednesday, July 14, 2010

Dow Futures September ;10 Update

Dow Jones Futures Sept '10
Dow Jones futures traded in a wider range, for the second day in a row and posted the second close above the 60% retracement level. (Based off the market swing from the June 21st high and ending with the low on July 6th.) The market seems to be quite aggressive at the start (2nd day) of the earnings season to provide the next direction. Since the market has already reached my anticipated target objective, following the bullish signal pattern on the July 7th reversal date, I will stand and wait for the July 15th reversal date to see if the market gives me a new signal pattern.

Keep your focus and monitor the prices as it climbs the reaction line. The prices have broken out from the Top Median Line of the Andrew's Pitchfork Formation. The targets or Resistance (if you wanna call it that) is highighted and there shouldn't be a problem to distinguish where is Support or resistance.


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