$INDU(5y1w)
$INDU(1y1d)
The price now retraces at the 2008Q4 support, unable to breakout. Indicators are showing mostly divergence. Based on the Fib, the next low is expected coming soon. As per Conrad's analysis, the next low should be at around 6000.
SPY(1y1d)
SPY(5d5m)
Still waiting for the price to break below the OP level. Today, the market opened gap down and the window was closed at 10.05am. Based on the volatility alone, one could scalp the market.
My Opinion
$INDU & SPY: sideways + bearish
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