OK, no, I don’t think so. That being said, other than the NASDAQ, which has benefited from good tech earnings, it’s been a bad week for stocks. Today gave a good trade setup opportunity to take advantage of the trend.
The Dow futures had a breakout setup today-an inside, narrow range day and a doji. The close under the 13969 support/resistance level was a sign to look for a selloff today. The break under yesterday’s low of 13878 put the pressure on, with Wednesday’s swing low of 13831 next support. A held trade under there should keep the pressure on, targeting Fib retracement support at 13702.
