The Dow is inline to bounce off the support of this hammer, if not it will be the first average to break the top. However, the downdraft created by the false breakout in the NASDAQ family of two is a strong gravitational pull down and usually the market herds together. It's worth watching because if it doesn't bounce then a very ugly day it could be indeed!
If the Dow breaks, the S&P won't be far behind. Remember, watch the SPY for a break of $104.35, it's your cue to quickly add the last 25% (then you should have 25% in cash) to your shorts.
Today could be the day, or we could get a bounce which would be great for all the newcomers to get their core position setup.
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