Dow futures Monday had a HI at 11.724 and a LOW at 11.377 with a CLOSE below the bottom 11.422 for Last Friday, at 11.402. A higher hi and a lower low than the trading day before plus a close below the bottom of the day before becomes a key-reversal. That means a very strong sign that the uptrend is over and the trend will soon go down.The day after a key reversal there can be a test on upside and if that test gets below 61,8 % of the key reversal bar the downtrend is very very often confirmed. Many professionals will now look for Tuesdays eventual test on upside and sell the rally if it not reaches above 61,8 %.
Sometimes there is no test on upside but a continued downtrend directly.
German DAX and France CAC also got key-reversals.
The Wall street trading did not result in a key-reversal for the Dow.
Asia starts as usual at CET 02:00 and Europe at 09:00 trading Dow futures.
Sometimes there is no test on upside but a continued downtrend directly.
German DAX and France CAC also got key-reversals.
The Wall street trading did not result in a key-reversal for the Dow.
Asia starts as usual at CET 02:00 and Europe at 09:00 trading Dow futures.
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