The upside has come through so far and shorts should not be opened before 11875 is taken out. There is very much a possibility that Dow may go on steroids for a couple of days so even when shorts are opened as close to 11875 as possible, hedge via futures in opposite direction or take some calls as specified in the earlier update this week. First round of shorts in the 11875-11975 zone and the next set should be opened only after a close below 11425 and then 11325 [The fall should start manifesting within 2 to 3 weeks maximum as Nasdaq is already showing negative divergence and same is the case with Transport as well]
The next leg of fall will be far more rapid and hence bears would do well to be patient and wait for the opportune moment.
The next leg of fall will be far more rapid and hence bears would do well to be patient and wait for the opportune moment.
Feeling Dow is in a hurry to go up.What do you think ?Regds.
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