- Dow Jones Did not break below 38.2% Following the Bearish engulfing pattern instead price is back near 23.6% Fib level.
- Daily chart is testing 20 and 50 Day Moving averages.
- Price is also close to a crucial support resistance zone between 13280 - 13340.
Hi San,
ReplyDeleteHolding my Ford longs and initiated AAPL shorts today. Historically, mostly the day after election has been bearish. And Thursday of election week has seen big rallies.
Btw, irrespective of the party getting elected, the day after pooling has been bearish. Add to that the technical resistance and 23.6% level.
ReplyDeleteThanks for the comments Sandeep
ReplyDeleteYou are welcome San!
ReplyDeleteAppl shorts on rise (3,10,16 MACD crossover) have worked well consistently. This morning, I averaged some more of my yesterday's shorts and hope to book profit between 560-550(555) levels.
Until we don't break the H&S pattern of Dow/S&P, I expect week and Nov month to be positive starting from tomorrow!