Click chart to enlarge Above is a chart of the Dow including Monday's action. Needless to say, there was a simultaneous and decisive break of the channel and moving average at the open on Monday. These short term chart patterns are not as reliable as longer term patterns, but if TA is any guide, market sentiment changed this morning. We should continue to sell off from here, but of course anything is possible. Today we sold the other half of what we bought at Dow 6700/6800. We were hoping for more upside, but there's a lot of risk now that we've been so blatantly rejected once again at the 75dma. We're more interested in buying than selling now, and are hoping for a return to the lows. If instead the market moves against us (goes higher), our next sell target is Dow 8400/8500.
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