Trading with point and figure

inzimam said:
Morning!

Ridiculous market. I'm short from 23253 as woke up and couldn't get back to sleep

Not sure if it's worth holding for long term now
Click to expand...

I usually like the Dow but its far too high and has been for ages, but the market is always right. So to hold a dow short these days might mean holding it for a long period of time, then you get hit not only with overnight charges but also the killer of dividend pips, especially this time of year. To circumnavigate the divi you can always use a forward contract but spread and slippage play an effect then. Heads they win, tails you lose.
 
Dow into the open

trends marked
 

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thinkng we could get a move to test 23210 area/trend supp
look hard at the bounce/if any
23250...ish is poss rez
 
its slightly short of 23300 area/terget

this is not a screamin short....its a numbers game
has nothing to do with earnings or the economy


we will play the numbers game
 
23230 is now a horizontal supp

we relly need it to get into 23210 area
bad bounce off 23170 and sellers in...that is the main pivot...if it gets there...was prev rez
 
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