So, as the slightly congested Daily chart of the Dow above shows, some of the indicators are saying "no mas"(sorry Roberto). That being said, we'll be watching carefully should it shed another 100 - 200 pts. as we should find at least temporary support around the 15,700 zone. Of particular concern are the combined MACD's crossing while the Stoch's are displaying a negative divergence. So, in other words, as the Dow rallied from the end of October until now, the Stochastics were already starting to turn lower. As always, time will tell but of utmost importance is the fact that we don't predict, we react!
As the Hourly Dow chart above shows, we have reason to suspect support at or around 15,700 level as that's where the key 50 Day MA resides and slightly below that the 38% Fib Retracement level.
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