Dow Industrials

The 6hr momentum cluster at the bottom of the first chart is oversold but if this is a real trend change, it matters not: they are for use in determining retracements within trend and cyclic lows. As I believe we have a number of larger cycles looking to tidy up matters at the same time, this intra day cluster looks like it is being overrun and only when it returns to the top, will we know whether it there is a retracement to sell into again. See the second chart for how the daily cluster looks - only just got started and so trying to keep my 'bank' finger off the button!! Price is sat at the 50day trend line, having broken out of the 25day MyWave. This is sequentially tidy of course. Now, the 25day FLD (green) is down at 15000, where the 100day trend line sits. I am looking for the breakout of the 25Day MyWave to be tested at 15000 where it's FLD sits. However, to get there, price will have to drop out of the 50day MyWave as we are sat there right now. If that happens, I would expect the 50day FLD to need a test and that sits down at 14600. To get there, price will have out drop through the 100day trend line...... I hope you get the picture. Could be some ways to go before there is a need to bank here - well I hope!