Dow Jones Hourly Pushes Sideways – Another Push Up Likely

Dow Jones Hourly -

The Dow Jones hourly continues to consolidate – readying itself for another push up.  This being said, we are bearish on these markets – our position is to continue to watch the Fed push the market up by pouring billions in per day.  If this slows, the markets will like fall sharply.  It is better to be on the sidelines or for those who want a return, to be short the market.  Many shorts have been squeezed up to this point, so that may not work well either.  The MACD continues to diverge from pricing – bearish.  The 8MA has turned down, but has been “whipsawing” back and forth – neutral.  The next level of support is near 13660 (see daily).  The next major move to follow should be primary wave 3/cycle wave c down.

Click on chart to enlarge Dow Jones Hourly Pushes Sideways – Another Push Up Likely