Dow futures - heading for further correction

12 Nis

MYM1! Dow Futures have broken below the distributive uptrend channel and confirms the double top formation. Long-term MACD is bearish while mid-term stochastic has shown an oversold crossover. 23-period ROC is below the zero line and Ichimoku has shown first sign of bearish signal. Support is at 37,600

23 Nis

Not

Rebounded at key support of 37,600. However, please be cautious on riding the rebound. Consider taking some profit first

7 May

Not

Likelihood of a strong upside targeting 39,874

19 May

Not

Broke beyond the 40K region. Potential expanding flat forming. Volume is low, so the ATH may falter.