Emini Dow Jones saw further sharp losses as predicted & went even further than expected to the downside hitting 15769. **It does look like yesterday
Emini Dow Jones December contract Daily Forecast - 16 October 2014Emini Dow Jones saw further sharp losses as predicted & went even further than expected to the downside hitting 15769. **It does look like yesterday will mark a low for the correction.**IT IS TOO RISKY TO RUN SHORTS ANY FURTHER.*We do expect a recovery in to next week.*We can change strategies now & buy in to weakness rather than sell in to strength.* Any return to 15800/750 is a medium term buying opportunity with stops below 15700. A break lower however sends prices in to free fall again & targets 15625 then 15550.
We favour a recovery scenario now & if we can beat 16050 this is a positive signal. Next target is strong resistance at 16140/50. We should struggle here & a high for the day certainly possible. However be ready to go with a break higher to target 16215/225. Again this is a challenge for bulls. However be ready to go with a break higher again to target 16365/75 for a short term selling opportunity.
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