Now that the DJIA has rallied 250 points today to 18000, it sets up a trade to go short right against this cluster of where all of the companies reported their earnings during April-May, as shown. Notice what happened in the past two cycles when stock prices later pulled back to the support zone provided from the earnings-reporting-season; stock prices keyed off of that mid-point and moved back to the highs.
I am placing a risk of 200 points for the main reason that it is far enough away from the current price and it is above the price cluster of days around 18050-18100 where the recent slide started from.
Tim 18017.92 last +253.88 (This INDU does not update during the day, so use another symbol to track)
I am placing a risk of 200 points for the main reason that it is far enough away from the current price and it is above the price cluster of days around 18050-18100 where the recent slide started from.
Tim 18017.92 last +253.88 (This INDU does not update during the day, so use another symbol to track)
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