Chris Capre's  Instablog

Chris Capre
Send Message
Chris Capre is a professional forex, index futures and commodities trader, specializing in Price Action & Ichimoku trading. Chris applies his methods to the markets both intraday and medium term swing trading, and has been trading for over 13 years. He is also the manager for a private fund... More
My company:
My blog:
My book:
Trading Price Action and Pivot Points
  • Dow Jones Approaching Key Level, More Upside? 0 comments
    Nov 26, 2012 7:01 PM

    Dow Jones Index
    The Dow Jones Index has been impulsively bullish over the last 10 days, gaining 500pts in the process and stopping right at the big figure at 1300. Today's selling was corrective in nature, and the intraday bounce off 12900 has virtually taken out the last 12hrs of selling - a strong bullish signal.

    I'm expecting this level not to hold and offer a breakout pullback setup to get long. Only a strong price action reversal signal here would change my short term bullish bias. Bears can watch for clues at this level, or wait till 13250 before attempting to short the index.

    (click to enlarge)

    Upcoming Economic Announcements:

    CNY Industrial Profits YTD (YoY) 20.30EST
    CHF UBS Consumption Indicator 02.00EST
    GBP Gross Domestic Product (YoY) 04.30EST
    USD Durable Goods Orders 08.30EST
    USD Consumer Confidence 10.00EST
Back To Chris Capre's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.