DJIA Simple Trading Update – 13 January 2014

Rollover or pullback?

simple tradingPrice had a fairly precipitous decline today settling just above near term support.  If price can’t hold at/above the support zone indicated by the parallel red lines, the equity markets may be in for a deeper decline.  Interestingly, a further decline wouldn’t necessarily be the worst thing… it would clean out weak holders and potentially set the stage for additional gains.  As always, mind your risk and whatever trade you take, you won’t go wrong.

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