DOW JONES INDUSTRIAL AVERAGE - $INDU
Monthly chart remains well below all moving averages and below the down trendline in place. No buy signal/pattern evident on this timeframe. Look for continued weakness and eventually lower lows.
Weekly chart remains below all its key moving averages as well. No buy signal/pattern evident on this timeframe.
Daily chart shows the market has been stuck in consolidation/trading range. Last week's price action brings the index back below the 8ema. Looks like we have 5 waves up into last week's resistance high, and we should see a deeper retracement of the whole move up off the November low. Initial downside target is the .618 fib level.
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