Posted By: Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
Cannon Trading / E-Futures.com
On Friday I wrote the paragraph below:
Looking at the Mini Dow Jones daily chart below, i will need to see a break below 12528 in order to get more confidence that the trend is starting to reverse and that odds prefer the down side.
Now that we broke this level, the next question is possible targets on the down side as well as protection on the top….
Updated chart for your review below. I am looking at 126.05 as resistance above and 12374 as initial target below:
Daily Chart of the Mini Dow Jones from July 11th 2011
Would you like to have access to my DIAMOND ALGO as shown above and be able to apply for any market and any time frame? The screen shot above is of the Mini Dow from today.
If so, please send me an email with the following information:
- Are you currently trading futures?
- Charting software you use?
- If you use sierra or ATcharts, please let me know the user name so I can enable you.
- Markets you currently trading?
Economic Reports Tuesday July 12th, 2011
IBD/TIPP Economic Optimism
FOMC Meeting Minutes
Economics Report Source: http://www.forexfactory.com/calendar.php
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