Market Down, Take Your Profit and Run

Dow Hit its 50% Fibonacci resistance and upper channel line last night, retraced, it's a very nice bearish reversal pattern. The odds is to the bear in short term, I'm looking at the short side. The downturn would be confirmed if the bottom channel support line broke.

(Click to enlarge)



STI displays the same pattern as Dow. Refer to two posts back HERE