DOW E-mini 20th March 2008

DOW and E-mini Daily charts

Daily charts range bound between Weekly channels......

Wednesday reversed back down into Support but has continued lower into midnight....

A break of support in 1 day can often be pushed down into support the next day....

Whilst price is trading below the 5-day 50% level then the trend is down.

Risk levels should be used on Thursday either way...

A bounce off the 5-day 50% level and move above Risk, and price could end up back towards the 5-day highs once again....

No probability trades other than using the levels above for day traders.......

Happy Easter.

The next report will be on the Weekend for the Weekly Index and Stock Reports...