I'm feeling it - Can you?????

The 'Bear Trap' kind of played out. I've drawn a final channel line indicating that this is the 'line drawn in the sand'. It is indicated by two touches 'circled in red' that show what i beleive to be the 'bottom' up the up-ward channel.

As you can see this is holding so far and the Dow is 'bouncing' back a little.



Now for the Xjo;

Its doing very nicely, it pulled back to a previuos trend line 'nicely' and is bouncing now just like the Dow. As like the Dow its 'overhead' resitence is just insight.....i'm getting a tingling feeling - LOL

First chart is a 'wider' view to show a more wholistic view and the second chart is a 'close' up.






This blog is starting to focus on the Dow. I do not intend to turn this into a Dow blog but it is providing a very nice trading/guidance indicator for the XJO (this is most always the case anyway). I will turn my focus to the XJO once this scenario plays out.

safe trading