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Failure to even test the 836-838 area resulted in
70% of my shorts being covered at 3pm cst. My trend indicators are
still bearish but failure to test yesterdays lows increases the likelihood that
we will see a s/t bounce towards 866-871 resistance.
Take a look at the Dow Futures 60min chart.
Action caught in a tight horizontal range since beginning of last week. A
pause in the downtrend? or maybe a s/t bottom forming? "Bottoms" rarely
look as good as this, so any breakout to the upside is will likely attract
buyers before reversing lower again.
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