THE DOT - if this turns orange or red be alert

Wednesday, July 28, 2010

weekly dow update - red alert for swing traders

Next week my vacation ends and updates will be more frequent again. So far the DOW is about to complete wave C up as we also are challenging the channel resistance. we also are on the last bit of astro support which will turn markets any day latest should be the 30th as Mars reaches the trouble zone. Two possible scenarios one is a retreat t0 9800 - less likely, more likely is a test of 94-500 in the first leg before collapsing to 8800. problem ı have with the more aggressive version for now are the sentiment factors who are slightly bearish which limits the downside - though in 2008 we had a similar situation but we also had also Lehman and AIG. Astro says though some extreme external shocks are possible for the next weeks. we have to follow closely as the turn and drop unfolds. In any case this are levels to go short again within 48h.

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I am a professional independent trader