The Big Boys, page-500

http://hotcopper.com.au/threads/the-brains-trust-2016.2672447/page-2069?post_id=17012978

On 13th Feb I wrote in the XSO thread that after analysing the Dow Jones index I switched from bear to bull, as linked. But it would be tested at the 50% retrace level. I was thinking three weeks, but just realised it's here after two weeks.

I've written my updated comments on the Dow weekly chart below. But I don't like it at all. I'm concerned this last couple of weeks has been a bounce only. Certainly its a major test that will probably need a bit of a pullback before it pushes through, if at all. Looking at the chart it really needs to drop about 2,500 points to that light blue zone to properly resolve this bearish phase.

I'll be culling my long positions on Monday and going to cash or looking short until this is resolved.