DOW Futures Daily 17 Nov 2009 recap

"Normally when there is a breakout of the highs on Monday price will continue towards the highs on Tuesday

Tuesday will remain in a tight trading range, but still above the highs on Monday, and then there is the potential of a late move upwards

I favour a higher move on Tuesday towards the highs"


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DOW Weekly and 5-day pattern


With Monday’s breakout of the highs, there was an expectation that Tuesday would continue higher:- break and extend pattern…

Which is also the break and extend pattern from last Week's highs towards this week’s highs.

However, price more often than not reaches the highs on Tuesday and then pushes back down into a tight trading day above the break @ 10332

Today ended in a tight trading day with an upward bias but failing to reach the highs in the day session @ 10428