After breaking the trendline, the Dow has had a deep correction, and is now heading to test the previous swing highs. If the resistance holds, it could form a potential double top. The price action is currently contained in a mild uptrend channel, which had a small breakout on Friday. If we see follow-through on Monday, it is likely it will head to test the swing high, but if it falls back into the channel, we can expect it head down to test the swing low, as indicated by the arrow.
http://synapsetrading.com/wp-content/uploads/2014/03/logo-header1.png 0 0 Spencer Li http://synapsetrading.com/wp-content/uploads/2014/03/logo-header1.png Spencer Li2012-07-29 04:35:052018-10-30 12:34:10US Stock Indices | Dow Jones - Potential Double Top