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Wednesday, March 26, 2014

$indu 60 minute chart



Here's the 60 minute chart for the Dow, the structure is fairly complicated, if your doing the math that is,but all you need to know is the red dotted lines. I'm expecting it to stall and turn in-between the blue dotted line and the red dotted line. Any close below the red line and it's probably going to test close to the bottom.

A quick word on silver, it tested and hit the 76.4% retrace level and I didn't realize until yesterday that there was an Bat/crab pattern.The "B" had a 50% retrace which gives a reciprocal of 2.00 which we are at now (200% ).I do not want to see this go below the bottom base of the cloud for it will turn Bearish.

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