August 8th printed an outside reversal. Tensions heating up with N. Korea and possible military event this weekend 11/12th. Shorting DOW by using SDOW with a stop above the DOW's highs of August 8th.
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A nice gap down today. Weakness for sure. We just need a daily close below the upper lines. The lower line marks some weekly closing resistance, but I do expect a sell off into September. RSI pointing lower as well as some confirmation amongst other indicators that I don't have showing on this chart.
Trade well!
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Nice reversal in price action today. Keeping it simple shows lower highs and possibly some lower lows coming soon :) Lets see how we close. Looking to hold this short into September
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New lows
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Closed on low of the day. That's encouraging for the short :)