29 Dec Day Trading DOW and FTSE; Updates on Projected Channels
A quick update on the projected channels outlined for both FTSE and DOW ahead of today’s session.
Fortunately the FTSE channel did hold overnight and I exited the position today on the cash close at 5560. The updated chart shows that this evening’s Futures have actually broken through the upper channel line and it will be interesting to see whether this is a fake-out or whether it can offer support:
The projected DOW channel also worked a charm offering the best entry shortly before the Cash session:
I have no idea what to expect for tomorrows session. The chart would indicate up a little more but being the last trading day of the year it’s anyone’s guess, and I’m sure “they’ll” want to park the Indices at a key level or a statistically interesting level…..just because they can!